Thanks for the update! I think USB 3.0 will certainly have an edge considering the immense popularity of USB. Though Light Peak definitely has its advantage in terms of proposed trasfer speed and future potentials, but initially it might take some time before it could overshadow USB 3.0.
Completely agree with Sanjib. With the wide popularity of USB than any other external I/O interface on PC, the technology is going to stay here for long time. Unless if there is a necessity of huge data transfer speed not all the OEM's will bring this light peak technology into the products. Thinking from the cost point of view usage of optical cables will also increase the price of the products. which is a disadvantage ...
I see this as a crossover point between these two technologies. USB 3.0 is pushing the limits of electronic signaling, while Light Peak is on the early end (relatively speaking) of photonic signaling. This generation of each will be competitive, but the latter should have a lot more headroom to grow.
This assumes, of course, that later USB stacks are still based on electrical signaling. There is probably no good reason to make that assumption. In fact, what might make the most sense technically is to build future USB versions on top of a Light Peak physical layer. Unfortunately, business concerns would make that difficult.
The primary one will be licensing revenue. If Light Peak is strictly Intel, then all (or at least most) of the licensing revenue goes to them. If it is a portion of the USB stack then Intel would just be one of the licensing pool members.
Over 2 billion USB devices are sold every year, and USB 3.0 will be compatible with all of those legacy devices. So it's "only" 5G/sec instead of 10G/sec -- the speed deficit is not nearly as significant as the entrenched base of compatible devices.
Yes, Light Peak and USB 3.0 can coexist in the same system, but why would they?