wow! i just saw ign's mp3 videos and, darn, color me impressed!
apparently when retro said they were focusing on lighting and particles they were not kidding.. AFAICT from that low quality footage (me not being an ign insider) the lighting possibly surpasses RE4's, which until now was my landmark for lighting this generation*. as re particles - i dunno what fillrate wii has but, boy, those thick smokes and projectile trails were among the lushest particle effects i've seen to date!
* with faked global illumination at the level of the best out there, e.g. polyphony digital's, and with local illimination in a league of its own.