Here was an interesting article I ran into: http://www.theregister.co.uk/content/4/26351.html

NVidia is positioning Cg as the "C for graphics". Presumably they don't mean that language prone to pointer errors and memory allocation bugs, with a dodgy run-time library, that takes 15 years to clear an ANSI standard ... but instead is a rich, high level language that removes the need to target low-level hardware card-by-card. (That's what happens when you let marketing people loose on the metaphors).
Hm. Sounds pretty good to me, and does this mean a potential for better games for more platforms? I surely hope so.

You can download the toolkit here: http://developer.nvidia.com/view.asp?IO=cg_toolkit