http://www.youtube.com/watch?v=W1JOxxOhhTY
This is a comparison of then and now. Hype not equaled, however, some things have gotten close. Motorstorm is the worst offender falling short. It is still a fun game, and worth own if you have a PS3, and like offroad racing. Looks decent to. But doesn't match what came up in E3 2005. KZ2 apparently looks good in its own right, but takes a different direction from the trailer. Much darker, and less draw distance. More dynamic lighting added.
Anyhow, that YouTube clip is worth noting. People can find the Spiderman-Gran Turismo mix for further comparisons.











