It's exactly like what the 6800 Ultra was like with the 6800 GT, only this time it's the 8800 Ultra and 8800 GTX. The ONLY difference is the higher clock speeds and new revision of silicon (which is how they tweak it higher). Other than that, it's exactly the same as a GTX.
Oh and GUESS WHAT? They charge you another $200+ for it! How retarded.
It's not like all of us here update every time a new part comes out. My PC's been running really strong for a year and I don't think I'll be changing anything major for another year or possibly two, unless I just feel like it. Consoles don't really seem to last that long any more.
That being said, I won't be surprised if consoles start retailing for that price in the near future.