ATI's New Secret Weapon Is The R420?

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Just spotted this bit of info at The Inquirer.net.

After ATI introduced its late summer speed update, codenamed the R360, we can reveal today that it is set to make a significant change to eighteen months of R300 architecture. The R350 and R360 are just speed bumps of existing architecture with some features enabled, but the technology called R420 is a totally new architecture. The R420 is being developed under the project name Loki. The R420 will be a PCI Express chip and at this time we can only wonder how many transistors it will have, but we have every reason to assume more than 110 million and probably less than 150 million. The answer to AGP compatibility is that ATI is going to develop a PCI Express to AGP bridge, so it will work with existing AGP platforms and still work when PCI Express boards hit the market.