The reason PCI Express has not been released yet is because graphics card companies have been working on AGPx8 based GPU's for a long time (AGPx8 is still fairly new), as the GeForce 6800 is AGP.
Expect to see an AGPx8 ATI card for this generation - although ATI have been talking about PCI Express a lot more; hence the "ATI and PCI Express" text you see all over their site.
Only time will tell.
[size=0.5]Full Aluminium ThermalTake Case
AMD Athlon XP 3200+ *400 FSB* Barton (2.2GHz)
ThermalTake Volcano 11+ Xaser Edition Air Cooling
1024MB Corsair TwinX XMS 3200 (Dual Channel 2x512) 2-3-2-6
256Mb XFX 7800 GS EXTREME
2x WD Raptors (10krpm 8MB Cache) 36.7GB using RAID -0
Video Logic SonicXplosion 5.1 Soundcard[/size]