To continue with the "Yay, Vista is here!" theme we have going the past few days, here's an article from bit-tech.net taking a look at Windows Vista and DirectX 10, and what it means for PC gaming. The article looks at the architectural differences in DX10/Vista and what it likely means for games from both the developer and gamer perspective. Overall, it is a very good primer on the changes to how Vista works with graphics hardware and how games should theoretically see improved performance.
The idea is that with Vista's new driver model, display model and revamped 3D APIs, no longer are hardware and game developers forced to work around a system that was never designed for real-time 3D rendering, with the capability almost being an afterthought slapped on the side. Now, the process is streamlined and setup to take advantage of specialized hardware to accomplish specific tasks.
Check out the article for a more complete analysis.