Well, the real interesting part is that double precision numbers are actaully now faster than floating point numbers(on the new chips). This increases the accuracy of the programs.
However I remember Cas saying something that he does not see the accuracy of the computer hardware to grow anytime soon. I don't know if this is supported in java, however this is in C++. The speed increase is tiny, but still combined with the improved accuarury it is significant. However, doubles take more mememory than floats. I'm just trying to be objective.
Also I remember there was an article on gamasutra awhile ago that the next generation platforms such as xbox 2 won't support floats in future since they are unneccesary.
However, I can't see why the idea would not be worth pursuing. The new cards are coming out with DDR-2 and actually the idea that soon we might be able to dynamically store stuff in "vram" is very close to reality. However, I can't see how this is would be supported in Java. I know for a fact that GameCube does this to certain degree. How nintedo does it, I'm not sure. It is certain that they can load most common textures in there.
What comes to the AGP issue is the fact that the buffer between AGP is simply not fast enough, however this problem is on manufacturer side. Nvidia acknowledged this fact and came out of closet to say that the new geforce 4 series cards can't fully utilize agpx8 although it is in the hardware thankfully ATI has been littlebit better in this.
My friend who was at Sony's E3 developer thingie said that the new Sony console will have not only have few separate processors, but also they will utilize "stacking", he said that this bring more object oriented approach to the computer hardware since each CPU(I'm including GPU here) has its own stacking thread. So the developers are able to actually assign few different things to go down into the rendering pipeline at the same time and that the outcome is hardware syncronized so no, which means that omgomgomgomg overhead lolol optimize everyday is gone.
So this means that the designer can send matrix calculations down the cpu pipeline, while sending vertices to be drawn down on the gpu, while calculating normals on second cpu and doing the game logic or something similiar. I think it sounds pretty awesome. I know there is a logical phallus in what I'm saying since some of those things are required to for another, but anyhow, so did my friend explain and I have no reason to believe he is decieving me.
Games have nothing to do with threads..... whatever