To be honest I beg to differ, the screenshots on this page certainly look good, but if the graphics are going to look no better than these screenshots, then I don't think there is much improvement, probably some tweaks, definitely big coding optimizations, but overall I don't think this "cinematic" concept has evolved much in the last five years.
Compare these screenshots to playing Crysis in Very High settings with AA on. Is there anything to really be that enthusiastic about ?
In my opinion consoles are holding back game studios in developing truly "life-like" graphics instead of just cinematic. I mean, the Xbox and the PS3 both have DX9c GPU's. The GPU on the PS3 is a modified 7900GTX. Remember that an 8800GTX than came after it was faster than two 7900GTX's together.
Whyis Crysis famous until this very day ? Because it pushed the envelope. You still have to buy the most expensive graphics card setup if you want ot make it look at its best at max resolution and AA. Thtat is what drives progress.
Sure, console owners will appreciate the effort and we all appreciate the code optimizations, but if adding to that we don't get another push forward, we. the PC users will continue waiting for these two consoles with their meager 512MB of Ram amd DX9 GPU's (notwithstanding powerful CPU's, but there is only so much they can do to improve graphics) to fade away and a new console launch.