Crytek is planning to release their DX11 update soon, which will include tessellation, POM, improved depth of field, improved lighting and better particles and effects. In addition it appears that there will also be a high res texture pack. A DX11 compatible graphics card (GTX 400 series/HD 5000 series and up) will be required for the DX11 update. A 64-bit OS and a graphics card with at least 1GB of VRAM will be required for the high res texture pack.
The page is here, with download links, but it appears the download links are inactive at the moment. There are currently some preview slides to look at.

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