http://research.tri-ace.com/detail_1.html
Video footage Information
The goal of the demo is to "Keep material consistency under indirect illumination using Physically-based Rendering."
Technical facts:
Rendered in real-time on Xbox 360 / PlayStation 3
Runs at 30Hz with 720p and is directly captured from the video output on the devkit
Real-time lighting and shadowing used (no baked light maps)
Key features are physically-based shading models, physically-based lighting and image-based global illumination
[youtube]http://www.youtube.com/watch?v=6cuXgRVMvZ0&feature=player_embedded#at=53[/youtube]