Ivy Bridge will once again set Intel graphics standards at much higher level, but this does not mean that Intel is going to win the performance crown without a fight. Intel still competes with Nvidia and AMD with entry level GPUs that still have ability to beat Intel's on CPU graphics.
Nvidia's mobile and notebook boss, Rene Haas, has confirmed that despite the fact that Ivy Bridge gets better graphics, Nvidia is preparing something even better. He said that in current generation, Nvidia ended up some 20 to 30 percent faster than Sandy Bridge graphics, and that this trend will continue in the future.
You can expect that next generation graphics core for notebooks from Nvidia ends up at least 20 to 30 percent faster from Ivy Bridge, and in some cases much more / much less. Nvidia also reminded us that over time Intel gets quite good in optimizing its graphics for benchmarks, which is quite an interesting remark from a company that just got a saucy settlement and money from mighty Intel.
Ivy Bridge is expected to show up in March and April depending on the version while we expect to see Nvidia'a new notebook chips before then.