There's no real confirmation so far, but it looks like ATI will release a bi-directional bridge chip, which can adapt a PCIe card to AGP and vice versa, allowing for PCIe and AGP cards to be made from similar silicon. This allows for some real savings: you can, for example, make an X700 as a native PCIe card, and then you just a need small and relatively cheap bridge chip to turn it into an AGP card.
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