Sky Render on 04 January 2008
Though system power is a limitation to a point, there's far more limitation in the form of a developer's time and resources available to optimize. You can be certain that most of the games on 360 and PS3 right now are far from optimized, and are actually eating up more resources than technically necessary to render them. The most egregious offender in this case being the likes of Oblivion, of course, with its practically traceable filtering effects masking on top of each other, one after another.
While I don't know if you could get CoD4-quality visuals to work on the Wii, you could certainly come closer than a lot of people realize, with proper optimization techniques.
Sky Render - Sanity is for the weak.
