Apparently, it IS real-time demo of what Panta-Rei engine can do (GAF).

(Be sure to switch to 1080p)

Yeah, quite uncertain myself - some things really look league ahead of anything we're used to seeing, than again...they said it's a big leap.

I don't see much there to tell me either way, really. So I'll reserve judgement for now.

There are some telling things in the trailer that show us it's not CG. But is it running on PS4-level hardware? That's the question.

Also, that English accent is terrible lol 

I like how main characters look really believable - like some plundering scumbags - really different than what we're used to usually.

This is clearly pure CGI. there is no way the animations will look that good, I would believe it if it was from naughty dog, because they actually have games that back it up and you would see an evolution, but this coming out of no-where. I call BS

in the presentation the jpn guy said "honjitsu wa Playstation 4 no uede jissai ugoiteru eizo o minna-san o otodoke shitai"
which literally translates to "today we want to show you footage that is running in real-time on the PS4" (the translation script had a different wording, but he definitely says the jpn equivalent of "running in real-time on PS4")

still, I think it looks too good to be true

RE5 teasers also looked insanely good back in 2006 and 2007. I don't get the feel it looked that good in the final product or at least it didn't felt so, but it wasn't out of reach for the hardware since some games still ended up looking better than these teasers. But now the final hardware is much closer to the developer kits in terms of memory than expected, so yeah.

Yeah, that was my initial impression too - this is just target render - but now, after looking at 1080p....some things still look like it's unlikely they are real-time, but lot of them seem like they could be showing this actual leap some devs are talking about. If it's all RT, like Ono said....just amazing.

The fact that the HUD is so obviously fake kinda makes me think like they're over-doing it. I'd say its a "target render" of sorts xD but it still looks insane and if the "real deal" comes even a little close: Its gonna be awesome.