A lot of sites have reported that a new, interesting 3D version of the Mandelbrot set has been discovered. The Mandelbulb has aesthetic qualities similar to Quaternion-Julia sets, but seems more diverse and suited for exploration.
Skytopia has a great overview complete with many stunning images.
Recent posts by Iñigo Quílez (who produced the Kindernoiser Quaternion-Julia set GPU renderer) indicate that he is very to close to completing a fast GPU implementation. These posts also include the basic source-code, which I believe should make it possible to port to other targets, for instance Pixel Bender. Apparently Quílez has cooked up a distance estimator, and a fake ambient occlusion scheme (based on orbit traps) for these Mandelbulbs, which sounds very promising.