I think this is all fud but either way could this system handle gta with ice mod at 1080p 60fps? 3d 720p 60fps? All I'd really like to see is that, with maybe double the polygon count and a HUGE jump in textures and lighting. If a system can do that at 300, why do we really need more? I'm actually still very impressed by games this gen. I think we'll see more full downloadable smaller games anyway.
You're aiming too low. Expect next gen in game engine cut scenes to look like this (from Naughty Dog):
http://www.youtube.com/watch?v=RSXyztq_0uM
With gameplay at 1/3 the detail (a bit better than ultra quality BF3).