Here's a "fly by" in the game showing off some DX-10 capabilities:
http://www.pcgameshardware.de/?article_id=551860
Unlike Vanguard, the environment looks fleshed out and detailed. The video is camcorder footage so not the best.
During the Vista launch party in Munich, we had the opportunity to film an Age of Conan flyby demo running on an Nvidia G80-Card and Windows Vista. It shows real DirectX-10 graphics for the first time and although the resolution is not very high, it gives you a good first impression of the next generation visuals of the upcoming MMORPG-title. Please keep in mind that Age of Conan is still in beta stage; hickups during the video may occur because the game is not yet optimized for performance.