According to the latest ATI discrete graphics strategy, the first GPU cores of each generations (from R600 generation beyond) will be launched for enthusiast and performance segments, with small updates (presumably a die shrink at half lithographic nodes, minor architectural changes, improvements to performance and power consumption, as well as implementation of newer API support) to the architecture 6 months after original architectural release, meaning the first GPU cores having only a 6-month product cycle. For mainstream and value segments, the product cycle will instead be 12 months without architectural alterations. The codenamed Radeon R700 line of GPUs will be aimed at a 2008 launch, and targeted to launch on a 45 nm fabrication process [1], while expecting that the Radeon R800 will be compatible with the next major version of DirectX API which is aimed at a 2009 launch.
It is also anticipated that UVD, or a refresh of it will be implemented in the core. While the GPU will also be anticipated to be fused with CPU core(s), to become a Fusion product. Report has that the R800 architecture specifications has been "closed" (finalized) [2].
http://en.wikipedia.org/wiki/Radeon_R800
