Square-Enix released a tech demo at E3 2012 to promote its new, next-gen game engine called the Luminous Engine.
This demo, if it's based on fully-generated gameplay, looks incredibly detailed. The detail isn't in faces and monsters alone, but also in fingers and toes. That level of detail is a major step up on what we've seen so far. Enjoy this trailer, and stay tuned for more E3 news as it arrives.