I have been doing a lot of research on this. Most sources are saying Q4 of 2011 release.
However, I believe they will just release 2 of their high end cards for the first month or two followed by the average card.
Also, just for anybody else who wants to know.
PCI 3.0 is now being installed on new motherboards. Newegg now has 2 in stock. The 600 series will require a larger data transfer rate because of the architecture design. PCI 3.0 is backwards compatible with 2.0 fyi.
Please try not to argue. This is just to help people for if they are looking to upgrade their computer soon.