fascinating article on next-gen graphics
 

From the man himself, Tim Sweeney - the man who created the Unreal Engine technology.

Looks like the software renderer could be on it's way back.

TG Daily - Tim Sweeney, Part 3: Unreal Engine 4.0 aims at next-gen console war


Also, check out the references to Daniel Pohl afterwards. Amazing stuff - Ray Traced Quake 4!