Truly amazing...the realism is awe inspiring. All the lighting, reflections and shading being completely dynamic and life-like are incredible. The full perspective based angles and curves changing with real-world accuracy is just shocking. I can see this technology not only applying to gaming, but also to real-world purposes such as home demonstrations. I am in the Real Estate world securing mortgages for home purchases. One of the fastest growing markets is construction/rehabilitation mortgages (203k and Conventional Rehab loans), where the lender actually lends not only on the purchase price, but also on the cost to perform the necessary renovations.
One of the difficulties in selling homes that need rehabilitation is envisioning what the newly renovated home will look like when you walk through it. Sure, you can look at pictures of the appliances and fixtures, and even pictures of mock-ups of the rooms, but to be able to actually do a walk-through of the completed project before the renovation has even been started would be tremendously valuable. In many cases, it could be the difference between selling the home at the asking price, or not selling - or having to drop the price even lower than fair market value just to motivate the buyer to take the plunge.
Doing this on the phone could enable a Realtor to walk through rooms, taking a video...then through the software converting that video to an empty-room video with nothing but bare walls floors and ceilings, then dropping in the changes, removing/moving walls, doors, etc., adding new appliances, counter tops, cabinets, flooring and fixtures, and recreating that video with all the changes, even adding in decor to give it a real lived-in feel. This could change the real estate industry.