Second generation chips are already here.
Avalon are 110nm for 300MH/s each (similar to ASICMiner) - first generation.
BFL 65nm for (approx) 4GH/s - clearly second generation.
Bitfury 55nm currently in alpha testing
https://bitcointalk.org/index.php?topic=228677.0 - second generation
KNCMiner 28nm 100GHash/sec claimed, in fab, expected to ship first mining rigs in September - third generation
Of course none of these have yet been delivered to board builders (and AsicMiner, Bitfury, KNCMiner have no current plans to do so).
If KNCMiner are able to deliver what they are promising, this is a game changer. And who knows what else is going to come in the next few months/years?
PS There is a useful comparison table here
https://bitcointalk.org/index.php?topic=209750.0 (follow the link in the initial post).