I have seen people say that making an X11 Asic will be much easier/faster than it was for scrypt... however I have no real knowledge on the subject so I cant say if that's true or not.

Regardless, if asics/fpga's invade x11, the market will dictate where GPU miners go next, it's not really that big of a deal.
For the time being, I like X11 for the temps... I don't feel like my cards are going to melt into nothing :-P. But if another algo starts to rise, we go there. I'm going to guess this "arms race" will be going on for quite some time, so lets sit back and relax, and watch the show