in actual raytrace driven games, the raytraycing process will deliver source data not only for refelctions, but also for physics, dynamics, shadowing and mybe AI calculations... of course tehre are no such games or machines available now... but if games will be raytrace-driven they wil also speed up like you could never compare to anything we know now... the otehr thing is, that V-ram will not be an issue anymore, because all visual-calculations will not be based on millions of pixels but will be based on (a few) rays... so v-ram will only be used to fill the screen with pixels then... wich will make graphic-boards like we know obsolet...
like every console-hardware available now... yes in theory a system with a cluster set-up like the PS3 is made for doing raytraycing... but in physical reality you cant expect anything from this hardware other than that they might be able to work with high-resolution textures in the future, wich would make in-game graphics like in the very first post possible... of course, you dont see the things that are reflected onto the car on the pics... so , I expect they still have quite a gap to close between such targets and real-time-in-game...
and if you ask me, a racing game would benefit more from things they did in DiRT with car-behavoir and ionteractions between them, nowadays, then bringing carmodels on pre-rendered level, while neglegting every other aspect of realism in a racing game... but I knoe GT is not a racing but a driving game ^^
greetz
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