Nouveau Working On Video Decoding & More
Martin Peres and other Nouveau developers were at FOSDEM 2012 last weekend where they shared a status update. Video decoding (using the hardware's video engines as opposed to just using GL shaders), OpenGL, reclocking and other features were talked about during the hour-long slot. Among the highlights is that the Nouveau NVFX support will hopefully be replaced soon by a re-written driver and that there's a re-worked (GLSL) shader compiler coming to the NV50 series (the pre-Fermi hardware going back to the GeForce 8 series).
Below is a Phoronix-recorded video from the Nouveau status update (or see the other page for the Nouveau OpenCL talk).