As much as I am impressed by photo mode in any racer, after all they often make great desktop backgrounds, what really matters to me is how the game looks when I'm actually playing the game. A photo mode shot, be it from GT, FM or PGR is not indicative of how the game will look when you are actually in-game and driving around the courses, so to draw conclusions based on the graphical fidelity of the game from such shots is like judging a supermodel from her airbrushed appearance in "Skanqué" magazine.
It's impressive granted, but I just wish developers would give us a realistic idea of what to expect from the game.
That said, I'm still super-excited for PGR4. The new career mode sounds like it will suck up most of my October.