Testing alone could drag a simple port on for ages. The console API is far removed from the PC API because it targets one hardware configuration. The console API basically has the same frontend for developers to use, but a completely different backend (which is why it performs so differently). A simple port strikes me as unreasonable given the complexity of hardware configurations it would have to deal with, though I may be wrong.How about Mantle being derived from the consoles' low level apis and MS simply taking their console's lower level version of DX, intergrating a nVidia path and porting it to a PC.
Going by previous DX updates, we're due a new DX. DX11 launched 2009; it's four years old. DX9 lasted 4 years before being replaced by DX10. DX10 lasted 3 years before its replacement. So unless the DX team have been swanning around doing very little, chances are their vision for DX12 has been in progress for some time and is fairly close to release (one would expect this year).We aren't talking about DX being released to the public or near completion by GDC on March 20th. For all we know DX12 may have a 2015 release date along side Windows 9.