Actually, this is a very good question,
Triforce1 (although it has been asked a lot). I think that the general consensus is that it will be several years before we see the exact same quality, but I can tell you that we are getting very close. With the release of
ATi's Radeon 9700, and nVIDIA's soon-to-be-released "NV30", programmers will have the ability to make a HUGE jump in realism (graphics-wise) for games.
As far as using high-resolution textures in games, that will only be able to happen when graphics cards get larger framebuffers (more RAM). If we're talking uncompressed Targa or PNG files, those puppies can get to several megabytes a piece.
I think the largest hurdle for graphics cards to overcome is real-time raytracing (especially with high polygon counts). Raytracing is the method that professional 3D software packages use to simulate reflections, refractions, shadows, caustics, and global illumination. This is a
very intensive process, and even dedicated rendering computer have a difficult time accelerating it.
Hope this helps.
🙂