Look carefully at this picture. Look at the top of the car and the reflection coming off of it from the side of the building. Look close. It's in color . I drove under an American Flag hanging off the structure. As you can see, the reflection is red and white. I have never seen full color reflections in a game before and I went back to games like GT3 and Project Gotham Racing 2. Something else I have seen which I haven't seen done a lot is making use of multiple real-time shadowing. In other words, if you are racing at night, and you drive under a set of lights, you can cast 3 or 4 car shadows on the ground at once. And the whole game is like that! When yo're driving under trees or on bridges and the car reflects not only the fact that there is an object casting shadow, but the exact shape of the object and it's color? I could keep explaining the graphic power to you, or you can keep looking at screenshots and videos and see for yourself. The game is gorgeous!
(Foto taken with tv card)