The press release is finally here.
As expected, the 3d doesn't look like it's going to get much of a boost, apart from the inclusion of the Ageia™ PhysX™ physics engine and some dx9 compatibility.
Still, since this is the first Adobe release of the product, perhaps we shall see more regular updates in future. We already know a version 12 (and possibly 13) is in the works from last years Chicago conference.
It's not quite dead to me, as i'll reserve judgment for when I see it actually running, but hopefully this release will give Director the boost it needs to become a decent product once again.