it's all over for PS3
*edit*
oh, wait
Comments from coder with actual PS3 experience regarding their demo (Heavenly Swords)
According to a coder on the team, the E3 footage is generated straight from their engine @ 1080p (frames were assembled after the fact to ensure a smooth framerate). He states that he fully expects the team to get the final game running @ 30+fps at that resolution (!).
The trailer was made by selecting a bunch of in-game moves/cool things, Then those frames making up those bits were output at 1080p from the engine. These are then all stuck together in a editing and post-processing package to look like a movie trailer.
But fundementally the 'renderer' itself was in-game, so you can see the shadow issues in certain frame where the in-game shadow map resolution optimiser doesn't do its job.
So in all fairness its not quite as black and white as either real-time or CGI...
Without saying anything regarding hardware etc. I will say everything you see is still early and we expect it to run alot better in future...
*Deano, can you honestly tell me that all those soldiers running around have their own AI and animations and such?*
Yep, they are simplified entities but still have basic AI (they can avoid things, stay in formation etc., they try and jump out of the way of the boozaka if you look carefully...) and use the normal animaton system, they are even the same models, the LOD system handles it transparently. They also turn into Havok ragdolls for a decent death.
Currently they are all on a single processor core, so the framerate drops pretty sharply at high number of entities... but this should go away once we have had a chance to work the machine properly...
whole thing here:
http://forums.gaming-age.com/showthread.php?t=48465
bottom line:
PS3 tech demos were real time...PS3 trailers were a mixture of real-time engine and CG touch-ups. nothing is finished, nothing is playable, so that's the best representation they could give.