360
Insiders say cutting-edge graphics are too costly for AAA games
(www.tomshardware.com)
This is a most excellent place for technology news and articles.
Sounds more like a tooling issue. The tech exists, the hardware can run it but the tools don't exist to make it feasible in a reasonable timeframe/with a reasonably sized dev team. Corners are being cut on optimization or relying on hardware brute forcing it.