ATI next gen R600 is on track for Q4
 

ATI is not hiding the fact its R600 does Shader Model 4.0 and is fully DirectX 10 compatible. R600 will be a faster version of the redesigned Xbox 360 chip and will end up with more Shaders, more pipelines, faster memory and a faster clock. It won't have any on-die memory as this is too expensive and too complicated for such a chip

one year after XBOX360 PC users will be treated with a videocard which will be able to deliver better performance at same IQ. Console get outdated quickly;)