Rumors about ATI's new chips are looking possitive. Personally I don't think ATI has a prayer of having the absolute fastest board on the market, but it is looking more and more like the fastest chip on the market is becoming less and less of an issue. In all honesty it is an extreme niche that can afford a geforce ultra, and what really matters to most people is that a GTS is faster than a radeon ddr, and an MX is faster than a Radeon SDR. The $125 and the $250 price marks are where 90% of people will look for their next card, and where 99% of oems will look.
nVidia went through a different pattern than creative. Creative was king, nearly got dethroned by Aureal completely beating them with the conversion to PCI. Then they created a product that could compete with the Vortex2, and gradually bled their competition dry until they became king again. Sound cards use extremely small amounts of CPU power, the new ones support Dolby Digital decoding in hardware, and work with everything. There isn't much you could ask for that they don't do. With graphics cards, I want the Final Fantasy movie on my computer screen, and that's aways away.