In case you don't want to sift though ATI's whitepapers, Tom's has taken a look at what's available on the R200. There are promises of more details to come, but this should satiate your appetite for now.
Assuming that what I saw demonstrated at Meltdown was the R200, and it couldn't have been anything else considering the functions of the SMARTSHADER being demonstrated, ATI is positioning its product as a precursor to DirectX 9, in the same way that Nvidia positioned GeForce3 as a DirectX 8 product. However, there isn't anything taking advantage of DirectX 8.1 right now, let alone DirectX 9 (which I'll address in my next report) so, ATI may only be catching Nvidia up on the marketing battlefield, and that's plenty good enough for now.
If that's not enough ATI banter for you, The Inquirer has an interesting story with some additional information
on ATI's deal to license Intel's bus technology.
The licence opens other horizons for us as we may see products which are strange hybrids supporting both AMD and Intel technology.
And we thought Nvidia would be the only game in town after its purchase of 3dfx. It looks like ATI is set to start making some very big waves. We can only pray they've devoted significant resources to driver development.