FUD Zilla claims ATI is going to release its first DirectX 11 graphics card by the end of the year, roughly the same timeframe of the DirectX 11 GT300 GPU from NVIDIA. The site says there will be a RV8x0 part and also a dual-GPU R800:
We are quite sure that ATI’s part is 40nm and we are talking about one big chip, packed with a lot of performance.
ATI's R800 dual-DPU card should again be equipped with two RV8x0 chips, while the RV8x0 card should be the performance DirectX 11 solution.
There is a big chance that both Nvidia and ATI might skip the 40nm DirectX 10.x part that would replace RV790 / GT200 architecture and that they will both simply move to DirectX 11 part and welcome Windows 7.