on windows 7 you will be able to play the game in DX11 (granted you own a DX11 graphics card), pretty much the way they handled vista/DX10. personally i skipped vista, and i'm just as sceptical about the DX11 hype so far. it is going to be the next standard, i'm sure. but i can't remember the real innovations like tesselation ever being mentioned in crysis 2 interviews or video footage.
not saying it will svck but they announced that it's only planned to improve performance. now if that performance gain is real (unlike 10 in crysis which often did worse than dx9 on identical settings) then i would gladly use the hypothetical edit-button in the future and delete the "ONLY". i'll probably be playing it on 11 anyway, unless a catastrophe should happen.
...where i live.