It is sad but the truth is that there is not comparison between PhysX and any of the free engines.
Ageia is a multimillion-dollar company, and have hired every PHD that has something do with physics simulation, to added more features to Novodex.
This is how they have Soft body collision, fluid simulation, fractures, and many other things. They are using the big corporation strategy of buying anything in their way.
Ageia marketing methods are very questionable. Instead of competing at a commercial level with other commercial technologies like Havok, they decided to bully out the small developers, but releasing a “free for nom commercial use SDK”.
There is not way a small developer can keep up with a professional developer with dozens of PHDs thinking of new ideas to incorporate to one engine.
Since they have the monopoly of the best software and the hardware they will exterminate the effort of all small developers. It may be good for them but in the long run it will only kill the creativity of other people, as they gradually see not support for their effort.
Notice that Ageia have not created anything new, everything they have done has been copied from other people, including the so call PPU.
Here is example of a physics acceleration adapter:
http://www.clearspeed.com/
I am hopping that a company like Microsoft or the openGL ARB committee come up with a started programming language for programming these hardware accelerators, in a more generic way.
I believe that some how this will happens as video cards are becoming so powerful that they have the feasibility to deal with physics algorithms.
If a generic language was created and companies like Nvidia, Ati, Havok, CmLab, RenderWare, and all of the free developers also adopt it, then any company manufacturing hardware will have not other choice than to do the same or be alienated.
And in my opinion that is fear and good for every body, and not these Ageia monopolistic method when they own everything and every body is just a spectator.