TMC Net has an article has gathered a news article that shows some of the progress by teams working to win the Archon Genomics X PRIZE. It seems like quite a competition:
In February 2008, Illumina claimed to sequence a human genome in four weeks for $100,000, only to be outdone five weeks later by its competitor, Applied Biosystems (ABI), who announced the sequencing of a whole human genome for less than $60,000. ABI also mentioned that their next-generation DNA sequencer is capable of generating up to nine gigabases per run, which is the highest throughput reported to date. Also in February 2008, Pacific Biosciences (PacBio) presented a revolutionary technology that within 5-years could produce a three-minute raw sequence, and a complete, high-quality sequence in 15 minutes - all for under $1,000. PacBio plans to introduce a sequencing machine in 2010, but an instrument capable of performing the $1,000 whole genome sequencing will not be available until 2013.
Combine this with advances in computing to store and analyze the genomics data that you can pretty much count on, and you have the potential for a profound change on the horizon.