Phase 5 have announced the BlizzardVision Graphics Card which will connect to the A1200 603e+ PPC board, in much the same way as the proposed Cybervision PPC. It will be a 4MB card capable of 24bit at resolutions up to 1600x1200. The expected price is 499DM; UK prices have not yet been announced, but 499DM translates into less than 200UKP.
Whether you will still need a tower, I don't know (there doesn't seem to be much room in the trapdoor!) but even if you do, this will still make fitting a gfx card to a 1200 much cheaper, as you won't need to buy the Zorro connectors, costing in excess of £150. The BVision is based around the same graphics chipset as the Cybervision PPC. Hopefully this will encourage a new generation of graphics card equipped PPC Amigas, with decent games and applications to support them.
The Cybervision PPC is due for release at 549DM, or £219.
Mark