I wouldn't expect 60 fps and 1080p from any game...
Hmm, unless Ridge Racer 7 is upscaling, thats exactly what it's said to be doing.
As for the target render comparisons, yeah its not anywhere close to looking like CGI, I don't think anyone can argue that. But compared to its next-gen peers I think Motorstorm is more than holding its own. Its a really beautiful and fun looking game.
They've thrown in a couple references to the E3 '05 trailer though. Remember the Cabin that got rammed into? Look toward the top of this gif...