I'm sure that the GeForce FX will get a little bit faster with driver tweeks (even my ol' GeForce Ti 4400 got a 5%-10% speed increase with the latest detonators)
But currently I still think that ATI are in front in terms power + value, although I haven't seen how much a GeForce FX costs. Maybe when CPU's actually get faster, then we'll see what the true potential of each card is, because I feel that even a 3.06Ghz P4 is the bottle neck of the ATI Radeon 9700 pro and possibly even the GeForce FX.
I remember some time last year that a graphics card company, I think Matrox, cheated with their card drivers. They made their drivers lower their graphics detail in Quake III so that it looked like the card was fast. Was a marketing ploy, because Quake III is used as a benchmark for alot of Magazines that review cards.