Studio@jumpers-inn.de

Raytracing techniques are making rapid progress enabling almost realtime raytracing. Check out this demo of VRay RT:

This is all cool, but VRay is a commercial software that officially only supports 3DS Max and Maya, costs quite a bit, so nothing a true Blenderhead is excited about. But the good news is that the open source community is already on it! SmallLuxGPU is the project you’ll want to have an eye on:

SmallLuxGPU v1.5 (OpenCL) from David Bucciarelli on Vimeo.