If you don't know already, the Power of X session is now available for viewing here:
http://www.apple.com/quicktime/qtv/powerofx03/
As to the question pertaining to this stream, go to time index 16:17, it will show Schiller introducing a member of the OS X team demoing quartz extreme.
What gets even more interesting is that he starts to use a program called quartzextreme which will let him turn it on and off as he pleases. He was also using the app to illustrate how much load it takes off the CPU when qe is enabled. Just for fun, it would be cool to have and for those who are still skeptical about it, they can try it for themselves and see how much qe helps out the system, all of course assuming you have one of the supported graphics cards. You will also notice the analog tachometer that's part of the app which measures the compositing performance. I want it!