IMHO, as far as abstract gaming goes, we already passed by graphics as the most important thing when Half-Life 2 was released. Ever since I have played that and its following episodes, well, to be honest, I haven't really felt any "wow" moments from any games released afterwards based on their graphical details but rather based on their game play or animations.
I especially knew it when I was reading a article in PC Gamer that I basicly paraphrase as being about how cool DX10 was, and honestly, I didn't see any significant difference between the DX9 pictures and the DX10 pictures of the exact same thing. Crysis was given all this "wow" talk about its graphics and when I saw it, even running at full detail, all I could think was "Eh." Sure it was cool looking, but nothing I was going to go ape shit over.
But, if you happen to be talking about gaming and thinking that damn word realistic (which so many people mix up with believable, as in suspension of disbelief), then virtual reality aka The Matrix, is a freaking long way off and honestly, I could care less if we ever do get it, I don't think its going to be all its cracked up to be in Sci-Fi or whatever.