Here's my analysis based on the footage from E3.
OBVIOUS DISCLAIMER: The following analysis is based on screens that represent a work in progress. You would be ill-advised to expect all or even any of this analysis to remain true for the final game.That said, analysis is fun! Let's get started.


Assumptions/observations based on the above screens:-Shepard has 8 powers plus 1 bonus power
-Squadmates have 5 powers
-Powers have 6 levels
-Level 1 costs 1 point, level 2 costs 2 points, etc.
-It will take 21 points to max out a power
-It would take 189 points to max all of Shepard's powers
-It would take 105 points to max all of a squadmate's powers
-Squadmates earn one point per level
-Shepard earns two points per level up to at least level 18
-Leveling from 18 to 19 requires 1350 experience
So what conclusions can we draw from all of that? Well, first and foremost, the level cap is almost certainly not 30. Even if Shepard recieved 2 points for every level, that would only be 60 points, enough to fill out 36% of the entire tree. For the record, in both ME1 and ME2 you could fill out about 73% of Shepard's tree.
So pushing past 30, we could be looking at a cap of 50, 60 or both (NG+). This of course has a precedent in the form of ME1. Again assuming we get 2 points for every level (unlike in ME1 or 2), that would net Shepard 100 or 120 total points, or enough to fill out 53%/63% of the tree.
While these numbers are significantly lower compared to the 73% of ME1 and ME2, I don't think they are outside the realm of possibility. Because powers can be upgraded in an extremely non-linear fashion, I think it's possible the game will place a greater emphasis on tailoring powers to your playstyle rather than simply maxing them out to snag the evolution.
In fact, I can see this leading to one scenario that may be a potential balance issue. Because we can evolve powers throughout the levels, maxing out a power is going to require a seriously huge benefit to justify the point investment. Consider the following extremes:
Specialized Build
Balanced Build
The specialized build more closely resembles a common strategy for building a character in ME2, but with this new system those last two 5 and 6 point levels are going to have to provide some serious bang for your buck, possibly to the point of game-breaking. Either way, I'm very interested to see how it plays out. For comparison, a cap of 60 at 2 points per level would allow a balanced build to level 6 powers to the fifth tier and 3 to the fourth. Crazy. Now you could do something similar in ME2, max out just two powers and level the rest to the third tier, but restricting evolutions to the final tier made that an unattractive option. With the ability to evolve powers from the get go in ME3, this could be a much more viable strategy.
So what do I expect? in ME3? I expect a level cap of 60 and a max of 90-120 points. I think it's quite possible that we might see something like levels 1-30 giving 2 points and 31-60 giving 1 point for 90 total points. Or a 40/20 split for 100 points. Or a 50/10 split for 110 points. When it gets right down to it, I expect ME3 will allow you to create a powerful Shepard with a comparatively smaller number of points in relation to the amount you'd need to max all of the powers. Official prediction: Max level of 60 with a 40/20 split for point distribution, and the rise of the balanced build.
Final point of note: levels will not be 1000 points of experience each. Leveling 18-19 requires 1350 experience. It remains to be seen whether all levels will require 1350, or if the amount of experience per level will increase.