Ok... I've gotten information from Jason with regard to this video to help ellaborate on the technology and add the context lacking here. The person who filmed this for gametrailers seems not to have actually talked to them about what it was, so as it stands it's just a video on the Internet.
But... here are some technical points from the demo:
* Although the lighting was not scripted in the looping demo, it is fully controllable and realtime, with realtime shadowing as well; every visible surface will catch the light and cast a shadow. They were demonstrating this to individuals via the controller, but Gametrailers again just filmed the loop'd video.
* In the underlying technology, SPEs are being utilized to calculate ambient occlusion; since the geometry in the demo is static, the ambient occlusion in this example is a static pre-calc as well. But the capacity to do so in realtime is there and fully functioning.
* One highlighted aspect is that the scene is actually rather complex, and each building has many windows that you can see right through. They use meshes for the terrain rather than a generator at this point, and the buildings feature high poly geometry rather than normal mapping (which they're looking to shift to) - nearly the entirety of the scene can be viewed on screen at once
* The vid is at a steady 60fps
They had another demo at GDC as well I'm told; maybe I'll be able to glean some info about it, and maybe Gametrailers or someone else will make the video of that available also.
