I don't know why everyone is bringing this down.
First of all, the hardware you specify is theoretically possible, but as of today no manufacturer has done it.(For very good reasons).
Second of all, those videos you posted can be rendered in real time, but it all depends on the details. Resolution? Different effects such as Depth of Field, etc? Those videos were rendered through Ray Traced graphics and with some powerful at home hardware, you could render a pretty good looking scene at a decent FPS. Not as good looking as the videos you posted.
Some real time ray tracing:
The pixar scenes that one user was talking about are rendered in a high resolution, probably 4K. However they don't take several hours per frame otherwise it would take over 100 years. You can render a complex high res scene on a modern computer in ~30 secs or less.
Unless they can get rasterized graphics to simulate light as good as ray tracing, ray tracing will eventually be implemented inside GPUs in the future. They have GPUs with 3,000 cores. If each core could perform calculations for ray tracing, you would have real time. Current GPU hardware limitations don't make that part so easy.
codyrigney92Member Since 29 Feb 2012
Offline Last Active Dec 17 2012 01:08 AM