This sounds great. It kicks up a similar conflict I have with Mantle though. It's a great innovation by nvidia but if it does work as it is supposed to, then it could change the industry - AMD and Intel aren't going to not answer that.
This is potentially a bit more annoying because:
1) We'll have AMD and NVIDIA supported monitors? AMD will answer this with their own, perhaps Intel (although their graphics generally address a different market). Perhaps most will both have the hardware required for G-Sync and an AMD solution, if so:
2) Would that drive up prices? Perhaps for a while, but I suspect this hardware will reduce in price fairly quickly, but even then:
3) Then this has a potential lock-out effect on any potential newcomers to the market. It seems very unlikely at the moment we'd have anyone to attempt to break into the PC graphics market, at least at the end we're interested in, but it's an uncomfortable thought regardless.
I'm super excited for this, I have a 780, and plan to go Nvidia for my next lot too (after 4 years prior to this upgrade cycle with AMD and bad experiences), but I'm slightly concerned on the effect of this sort of stuff on the industry - fragmentation hurts PC gaming, we need vendor neutral solutions.
It's really difficult, because who will develop these vendor neutral solutions? Companies like Valve, Oculus, etc, seem like the best candidates, but I'm not sure how set up they are do to that sort of stuff.
NVIDIA and AMD aren't going to spend money developing stuff for the "good of the industry" if they aren't as a result going to drive people to buy their cards. Completely understandable and justifiable, especially in cases like this - it isn't as if they're extended existing functionality, this is brand new hardware that is required for this to work.