The closest new tech release is the new AMD graphics generation, supposedly starting to be rolled in November. This is expected to be mainly low-mid end cards initially, with the higher end coming later (perhaps early 2011). However, there has been a more recent rumour that a dual-gpu card will be out by the end of 2010, so perhaps the top end cards will be out for christmas.
As for CPUs, the next big updates are coming in Q1 and Q3 2011. In Q1 the mainstream part of intel's new "sandy bridge" architecture will be released, as will AMDs much anticipated "Bulldozer". In Q3 Intels enthusiast level sandy bridge platform will finally be released.
The Intel mainstream chips will need new boards with a 1155 socket (current s1156 board will not work). Also this platform will not allow traditional overclocking as all the busses are tied together - so increasing it by more than a few % makes it unstable. Instead, intel will sell premium "K series" processors with unlocked multipliers to overclockers.
From the AMD roadmap shown on anandtech the first new "bulldozer" cpus will work with the AM3 socket - so if you wanted a system now, but want to upgrade the CPU later - then going for an AM3 system is a fair choice.
Finally, the intel top-end sounds very cool but very expensive - socket 2011, quad channel RAM, proper overclocking allowed. This will replace the current s1366.
As well as new technologies, there are some new prodcuts and prices coming up. The i5 760 was just released and the i5 750 prices are expected to drop a bit, same with the i7 870. The i7 970 (hex core) was recently release and the i7 950 has dropped to ~£240. This may mean that the i7 930 price will drop a bit.
On the AMD side I am not so sure about new releases, but the Phenom II X4 and X2 line just recieved a fair price cut. The PII X4 955 is now only £110 - an absolute bargain imho.
