Microsoft unveiled information about the future plans for DirectX at the Game Developer Conference last week:
The first topic covered is DirectX 10.1 which, as previously thought, seems like a minor and logical evolution of DirectX 10.0; the new features include per-[multiple render target] blending modes, better [multi-sampling antialiasing] control, Cube map arrays, more VS input/output attributes, and improved precision requirements. All in all, nothing revolutionary, but perhaps still some goodies very useful in specific scenarios. And while there's nothing really new there (except the 'center' interpolation mode for micropolygons?), it's nice to know some features such as programmable MSAA sample positions have made the cut.
Tech Report also writes Microsoft is planning to incorporate technologies like dynamic global illumination and ray tracing in future DirectX versions.