sandorski-
"1x, 2x ,4x, 8x who cares? Vidcard makers are not going to rely on it, game makers are not going to implement it. If the AGP slot was removed, no one would notice the difference(unless they tried to install an AGP card in a PCI slot, of course  )."
Wrong. The problem with this statement, and this line of thought(which is quite popular) is that you are only looking at one very small, hardly used advantage of AGP. The assumption that AGP texturing doesn't help in texture limited situations is absolutely false. 
For evidence, look to early 5.0x Det drivers and disable texture compression. Then run Quaver at 10x7 32bit UHQ on any 32MB board. You will be pushing roughly 10FPS-20FPS. In the 5.0X drivers AGP texturing was disabled under OpenGL, causing a massive performance hit. After that, try the same exact test under 5.2X or later Dets and watch the FPS jump to the 35FPS-60FPS range, a roughly 300% improvement overall and 900%+ in worse case FPS, the most important area of measurement.
Ignoring texturing completely, vertice data and textures must be uploaded to the gfx card. Even AGP 1X has far more then the theoretical doubling of performance over PCI. On the PCI bus everything is fighting over the same miniscule 133MB/s bandwith, enough to handle about 2.5million vertices/sec if nothing else is on the PCI bus and there are no textures being uploaded. In the real world, you have modems/NICs, coundcards and the likes taking up additional bandwith not to mention you do need to move texture data so your likely peak is probably closer to 1.5 million million vertices/sec.
Take a look at a game like Giants or something like the NV15 level for Quake3 and you are talking sub 20FPS performance no matter how fast your CPU or video card on the PCI bus. What's more, polygon and texture complexity is going up quite quickly right now, Giants was only the beginning.
The biggest problem with AGP has been system bandwith. That 1GB/sec AGP 4X spec sounds impressive, but that relies on system memory bandwith which for the vast majority of AGP 4X systems only matches the peak rate of AGP 4X, so nothing else can be using any bandwith in order to reach that rate of transfer. Quake3 when paired with the PIV gives a good example of this, look at the spike in FPS when using dual channel RAMBUS over single channel, a good indiciator that system memory bandwith needs are strangulating the available bandwith of the AGP interface. DDR and RAMBUS are needed to fully exploit AGP 4X.
AGP 1X right now is too slow for the most recent games. I'm not talking about two year old titles like Quake3, I'm speaking of actual up to date games. AGP 8X is going to be needed in the not too distant future, although increased system memory bandwith will also be needed to properly exploit the technology. PCI gfx are no longer viable unless you want to stay playing outdated or non 3D games.