Heck, if I were an electrical engineer sitting down at ye olde drawing board right now, I think my replacement for PCI would go as follows:
Since you still need expansion cards, you'll still need a bus of some sort. But no one says it has to be so crappy. So why not use a double-pumped 128-bit wide bus running at the same clock frequency as the FSB? Give each component on this replacement bus the same rights to access system memory as an AGP card has.
In fact, make the chipset treat each expansion card in the same manner that it treats the CPU. Make them all piers. Allow them to talk to each other over the bus, talk to the memory, or talk to the CPU.
Include the socket on the motherboard for the video GPU and have it treated as a pier by the chipset as well.
In fact, turn the chipset into a ChPU in it's own socket so that when better revision chipsets become available, you can upgrade that without having to replace the whole motherboard. And give it it's own heat sink because it'll run more like an intelligent communications director. Because of this, it'll have to have a frequency and multiplier like a CPU so that it can process multiple commands all in one clock cycle.
In fact, add into this ChPU something like eight indivisual memory-controller slave systems, each with their own cache, so that several processes can actually use different busses to the memory simultaniously to access various parts of the memory for different components all at the same time.
This way the CPU and each card can in effect access the memory all at the same time without slowing each other down to do it.
And screw backwards compatability with PCI. Instead have the first series of motherboards still have support for an old PCI bus as well as this new bus with like two or three PCI slots the same as when ISA was phased out.
I'd call it something like a Friendly Pier Architecture to symbolize that all of the components in the system are now piers to each other instead of slaves to the CPU.
Granted, it'd be rather expensive I'd imagine to do this at first. But it would be quite worth the money.
- Sanity is purely based on point-of-view.