The Inquirer has a short summary of the Shader Day event, organized by ATi, which focuses (as the name tells) on shaders. According to ATi, Shader Model 2.0b is capable enough to be able to handle the most complex shaders. Shader Model 2.0b supports up to 768 instructions, while the most complex shader in Half-life 2 is 90 instructions long. FarCry's impressive realistic-looking water shader is around 50 instructions long. Not surprisingly, NVIDIA is heavily promoting Shader Model 3.0 that supports up to 65536 instructions.
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