HardOCP has tested the new Morphological Anti-Aliasing technology of AMD's Radeon HD 6800 series, you can check out the report over here.
The first thing you need to know is that this is a post-processing effect that is applied to the output image after all rendering stages. What this means is that the video card driver applies a custom post-processing filter to each frame after it goes through the GPU pipeline, and before it is displayed on your monitor. This is performed via DirectCompute accelerated by the video card shaders. This is not like in-game antialiasing where 2X MSAA, 4X MSAA or 8X MSAA are performed during the rendering of the scene through the pipeline. By doing it this way, Morphological AA is able to be applied to the entire image, full-screen, so that any aliasing on the image can be reduced, no matter where the textures or polygons are. This is somewhat like applying a filter in Adobe Photoshop..