SavageXP will be the first new core from S3 Graphics (post aquisition by VIA). Is is based on the Zeotrope core which is supposed to be used in both a integrated solution (P4M333?) and a discrete desktop solution (SavageXP).
I'm a bit unsure of the specs, initially it was to be a DX7 part but according to
here it will have DX8.1 Vertex and Pixel shaders.
Basically, Zeotrope seems to be a 2 dual-textured pixel pipe card with ~166MHz core. That's similar to a Geforce2 MX. They will probably pair it up with DDR memory though. You can see a pic of a Tyan SavageXP card
here This seems to be nothing more than a "enhanced" Savage2000 with DX8 funtionality. Let's hope enhanced = fixed hardware with decent drivers.
Don't expect much in performance from Zeotrope, but it should be a VERY cheap card. It will also be a litmus test for the VIA / S3 team to see if they will have good driver support this time around.
More importantly, if they get the thing out and sell some cards they might actually get the Columbia chipset out. Columbia is supposed to be S3's attempt to get back into the performance discrete desktop martket.