While select camera angles are indeed fabulous and near photorealistic (hear that Dan? this is what near photorealism is like...) when you are playing the entire illusion is destroyed because the cherry picked angles are no longer present, which means exposing a lot of non-photorealistic qualities still persistant in games, as well as the fact that the game angles are... boring, unimaginative, and definately are dinimishing in regards to visual returns.
And that may be the biggest problem this gen: Getting the most bang-for-buck from the GAMEPLAY camera. e.g. the below shots wouldn't make someone ask "is that real"?
As long as game angles keep showing us the same bland angles that show significant eye sores we will contininue hearing things like diminishing returns. And I think this is important because I don't care much for replays--I want the gaming experience to look like those photos
That said GT is on a good trend and yet again PROVES that with good artists the current consoles have what it takes to make some jaw dropping graphics (sometimes the crap on the 360 and PS3 make me SERISOUSLY wonder!). Love what I see. Although it reminds me of a couple games that have already gotten good enough in replay angles (e.g. NBA 2K) that make you double take when a decent distance from the screen.