Primarily PC gamers should be expecting since consoles can be developed more closely without the need of an API.
Since Direct X11.1 is coming with Windows 8 I feel their won't be any new Direct X anytime soon unless they'll release DirectX12 as an update not with the next OS.
I really think Microsoft should gather developers such as DICE, Epic Games, Crytek, id software, and other videogame technology leaders ask them advice on their DirectX API like to trim down unnecessary coding or ideas for new graphical features. Even have the indie guys come in and have their opinion on how to make the use of the API easier so they can take more advantage of hardware and graphical features.
OpenGL isn't as used much since Microsoft is able to encourage more to use DirectX and a few othe reasons, for sure they definately have the support of Mac and Linux users who want more games to support their prefered OS.
Nvidia has some nice stuff with physx but to ever actually see any of it in action they'll need to allow their competitor AMD to have it. I don't know what is going on between the two but I hope they come to an agreement to allow some form of GPU accelerated physx on AMD platform. As for CUDA and ATI stream or whatever it is called I really don't know to what to say to them interms of gaming.
Havok has the advantage on PC for physics since Nvdia GPU accelerated physx is limited to their cards, they should work on new destruction, unique object gravity, unqiue fragmentation, and what other stuff Physx is and isn't capable of. It makes feel sad to see all this CPU power go to waste on games except RTS. With Intels incredible work on CPU architectures and AMD well uh cramming in more cores. Not to mention coding for CPUs is a lot easier than GPUs.