"It is practically impossible to teach good programming to students that have had a prior exposure to BASIC: as potential programmers they are mentally mutilated beyond hope of regeneration."
- Edsger Dijkstra
There's a new demo available that demonstrates texture compression done entirely on the GPU. You'll need a DX10.1 card (Radeon HD 3000 series only right now) and you need to have Windows Vista SP1 installed.
You can toggle between the compressed and uncompressed texture with F5.