How long until Direct X 12 do you think...?

I'm thinking of buying the GTX 680 4GB and I am worried with new technologies coming out every six months, the 500$ will go to nothing, as it will be un able to have best of the best quality in game (GTA V maybe?) So basically

1) When do YOU think DX12 will be released, is this smart to grab a 680 4GB now?

and 2) Will there be firmware patches for DX12 or is that solely hardware?
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More about long direct think
  1. It really is just not an issue most games don't even use DX11 yet and a lot of those that do are not using it properly. By that I mean that the games are not natively coded in DX 11 but are patched later.

    Mactronix :)
  2. Direct x 11.1 will be around when windows 8 comes along; the hd 7000s series and nvidia kepler are actually dx11.1 products. I suppose dx12 will come with windows 9...
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