We know how they are doing the reflections now (map the previous frame) so that shouldn't be a surprise! Too bad the lighting is downgraded in gameplay!
I preferred the iris effect in PGR3, but a slew of people here complained about it. So where are they now?
Anyhow, PGR4 is a significant graphical upgrade. I am surprised more people cannot see past the art and see the technical differences. The number of, "It looks just like PGR3 and not much better" comments floating out there (even in reviews) is mind boggling. But my theory is people are more drawn to art than anything else. Hence why so many can stomach such poor filtering seen in most console games (at least PGR4 is a step in the right direction there).