Yeah, I think we're getting there. I mean...Uncharted 4, Gears 4, Quantum Break, Mirrors Edge...there's some really great looking games coming out this year.

I think Uncharted is cutting it very close, the order 1886 did also very well graphically and with effects. But as good as a techdemo it is not going to get for a while maybe with the second ND game.

Things that need to improve are fire effects, bouncing bullets, physics and impacts of explosions, hair and hair movement and finally clothing movement.

I agree with you. We aren't there yet and probably won't get there for a little while longer. This gen is just an HD mastering of last gen. We have been getting the same games, mostly sequels, in higher resoultion and textures. There are a few standouts for sure like the ones you have mentioned, but overall it is just consolse slowly catching up to PCs circa a few years ago. I still am wishing we get 1080p 60fps as a standard next go around, or heck 4K if the wait is long enough and tech advances enough to make it cheap.

Physics, aside from tech demos and presnetations will probably never get there. Let's be honest, most developers are too lazy to throw in that level of detail and care when they can just pump out AAA game version 3.0 with higher resoultion, textures, polys and call it a day. Look at anything Ubisoft has done, tech demos which are hand made look fantastic, but then when it comes to release, we get huge reduction in quality. I know not every developer is like that (CD Projekt Red, Naughty Dog), but majority are. I wish UE4 and Cryengine3 could run well on current gen, but I think that a lot of those advanced features are removed due to the limitation in hardware of the consoles.

I think witcher 3 did a hell of a job on open world enviorent and inmersion and has great visuals to boot.

In terms of games that are out, I think there are other aspects that the 8th generation has pushed that didn't appear in the trailer like the sheer number of particle effects in inFamous Second Son. Other than that, I think the Witcher 3 does a fantastic job of merging physics, animations and dynamic foliage in a vast open world. CDProjekt Red did a great job.

I look forward to seeing what Naughty Dog manage to push in Uncharted 4 and Horizon is also looking very promising on a technical level. We're only really starting to see developers push what can be achieved this gen.

Edit: I suspect Cyberpunk 2077 is also going to push technical benchmarks considering it's CDProjekt again. 

The Witcher 3, as others have mentioned, has been the most impressive display so far, as a total package. I want to see the Source engine 2 and what it can do, and how much power will needed to do it, with the Ubisoft's and EA's of the world, there isn't a lot of good optimization going on right now.

Positive surprise on a technical level; Metal Gear Solid 5: The Phantom Pain and how well it runs on PC. It doesn't have the best visuals in the world but it's by far the most stable performing 8th gen title I've tried so far.

I cant see the girl's hair movement during her run, and I think many games do it already.
Enviroment looks poor compared to lets say Far Cry Primal, W3.
Girl's animations - I think no game do it already, but U4,QB,FFXV looks promising. On other hand, I think the GIF's framerate is really, really low ( at least how I see on this, for me its kinda 20 fps ? ) so maybe we miss some smallest movements in games with better fps.
Lightings looks bad for me - this gen does a huge steap forward already.
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I like the idea of the thread, but there is a problem for me - during normal gameplay many gamers, I think including me, simply ignore or miss details like these. Its really enthusiast stuff if u aske me.
The same I can say about latest DF articles - are 1-2 fps drops really that bad to mention in a single akapit ?

This gen isn't a super big jump up in technical fidelity from the 7th but I've had some enjoyable graphical experiences.
Driveclub, Infamous SS, The Order 1886, Star Wars Battlefront and others definitely had some beeaaautiful graphics.
With Uncharted, Mirror's Edge, Quantam Break, Gears 4 and others on the way there is still much to look forward to. Now that CoD will hopefully remove it's cross-gen status I think we'll finally see what they can do too.
Honestly though The Witcher 3 is probably the most technically awe-inspiring game for me so far.
Grade = B+ (too early in the gen to mark higher, but Witcher has shown what 8th gen is capable of).
The biggest differences I have seen in the games I have played are the lighting systems and the resolution bump tbh

I'm not too keen on animation technology since I think we've reached near the apex with FFXV ...

As far as physics goes I think that trailer has it's match made with Just Cause 3 in procedural destruction but physics is just more than just deformable geometry ...

Bloodborne has quite a lot of physics