There's a thread on Neogaf right now saying that the trailer was running in-engine, in-game, in real time at 1080p w/ 60fps. It has been cited by 3 separate sources to be true, including Corrine Yu. I want to say it's too good to be true, but I haven't been let down by Naughty Dog yet, and seeing how they managed to make Uncharted 3 and The Last of Us look on a ps3, I can't say I'm completely surprised. With Corrine Yu added to the team as well, I can only imagine the black magic they could be using to make it look like this.
Any thoughts on this? I am quickly becoming very excited for the next 2 years in games. After a pretty (albiet expected, new hardware and all) slow start to the next generation, it seems like things are really picking up. Could we be having another Gears of War moment, where it came out and was visually amazing at the time and other games followed suit?