With USB3 on the horizon one would think any hope of Firewire maintaining a healthy position in the PC connectivity world
would be slim to none; but clearly the 1394 crew arn't going down without a fight based on this latest announcement.
Upcoming Firewire specifications have just been revealed which indicate a whopping speed increase that is quadruple the current capabilities of Firewire. This should allow for a very nice ceiling of 3.2 gigabits a second.
You can find more information here.
The new electrical specification, known as S3200, builds upon the IEEE 1394b standard, preserving all the advantages of FireWire while offering a major and unprecedented boost in performance. The new speed uses the cables and connectors already deployed for FireWire 800 products, making the transition forward easy and convenient for 1394 product vendors and their customers. Because the 1394 arbitration, data, and service protocols were not modified for S3200, silicon and software vendors can deploy the faster speed FireWire quickly and with confidence that it will deliver its full potential performance. The S3200 specification is expected to be ratified by early February.