How are the development team planning for the future in terms of hardware changes, new standards in graphical quality among competitors and so on?

We heard last time that the next milestone is DirectX 11 compatibility - how is this going to be managed alongside the PS3 versions? I'm asking from a PC player viewpoint but I imagine that the PS3 players might be less than impressed if say, the PC version continued to get improved graphically whereas the PS3 is neglected, and vice-versa.