It's definitely approaching lights off for GPU mining. The difficulty is going up very rapidly and it's just not economical any more. Investing in new GPU hardware has been stupid for a few months, GPU hashing should be totally dead by the end of the summer.

Alt coins are also dead, Litecoin is the last to go down but it's going and will be gone soon.

Long story short, ASICs are quickly becoming the only economical option but at the prices being charged by most vendors you may still have issues making back what you pay for them. If someone was mass producing at BFL's prices maybe, but then every hash would be worth less overall. As for me I'm thinking that my best option to just to get out of the business. This situation combined with government crackdowns on Bitcoin-centric businesses mean other businesses are more profitable.

Also, if you're thinking of the future value of Bitcoin it could be $0. It's a speculative market and that makes it very volatile.