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SvennoJ said:
Correct me if I'm wrong, but will ray tracing help with loading times as well? No more light / cube / shadow / reflection maps etc to load for each scene, instead rendered on the fly. That should also reduce the game size, faster downloads, faster patching. It should also reduce the workload on the development side.

Not really, cube/shadow/reflection maps are mostly generated in real time using either the fixed function units or shaders. Light maps hardly take any storage space. You're going to be disappointed if you think ray tracing will improve loading times but it's going to vastly improve visual quality leaving last gen systems in the dust ...