An excellent report, State of the CIO 2010, should be must reading for all those involved in IT or who wish to become CIO's. The report outlines the dramatic changes in process relating to the roles and duties of the CIO.
Here is one chart showing some of the key findings of the survey:
Note the changing priorities and use of time for CIO's. Several areas are increasing in importance and some are decreasing. Clearly, the CIO is becoming much more of a business partner for the organization. There are several other equally insightful charts and results from this survey---well worth spending some time.