My apologies if this has been posted already.
http://www.anandtech.com/video/showdoc.html?i=2102
there will be no new eye candy available through the SM3.0 path. The game should be rendered exactly the same way it was under SM2.0
The main point that the performance numbers make is not that SM3.0 has a speed advantage over SM2.0 (as even the opposite may be true), but that single pass per-pixel lighting models can significantly reduce the impact of adding an ever increasing number of lights to a scene.
http://www.anandtech.com/video/showdoc.html?i=2102