<p>What do you think the future of GPU as a CPU initiatives like CUDA are? Do you think they are going to become mainstream and be the next adopted fad in the industry? Apple is building a new framework for using the GPU to do CPU tasks and there has been alot of success in the Nvidias CUDA project in the sciences. Would you suggest that a student commit time into this field?</p>

I think it's the right way to go.
Considering that
GPUs have been tapped to create cheap supercomputers
, it appears to be the natural evolution of things. With so much computing power and R&D already done for you, why not exploit the available technology?
So go ahead and do it. It will make for some cool research, as well as a legit reason to buy that high-end graphic card so you can play Crysis and Assassin's Creed on full graphic detail ;)