I agree with you partially dev1se. It will all depend on what Intel can deliver with Larrabee.
If, like it's been said, it's "suxk" at Dx10.1 graphic, it might not even get a chance to show what it can do for Ray-Tracing. I just hope it will work for Intel, and that AMD-NVidia can get up to the game, because the result look very promising... plus I don't want it to become "Intel-only" playground.
My 2 cents!!!