From press release:
Pretec, creator of the highest capacity CompactFlash card in the world (100GB) and the fastest CF card in the world (433X), continues today its record braking [sic] history in the field of speed and capacity by unveiling the new SDXC 32GB, the world's first, highest capacity and fastest SD card at PMA CFA booth at LVCC South Hall K286 in Las Vegas, Nevada.
SDXC (eXtended Capacity) is a next-generation SD card, with capacities up to 2 TB (2048GB), and read/write speed up to 50MB/s initially and up to 104MB/s in the future, with a possible 300MB/s as a long term roadmap. By using exFAT file system, Pretec's 32GB SDXC card is not compatible with SDHC, which is using FAT32 file system.
That's the good.
The bad is that currently no cameras or computers can use this new format.