
This is a CG image. It's part of AMD's new "Cinema 2.0" deal, announced with the 2.4 teraflop ATI Radeon HD 4870 x2 (to put it in perspective, the PS3's Nvidia chip exerts 1.8 teraflops of power. The ATI 360 chip puts out about 1 teraflop)
I did not suspect that it was a CG image until I was told, but now that I know I think the features of the neck and the shadows are a little off. But the things that you normally notice as being "a little off", notably the features around the eyes and the hair, are not very apparent. Of course, the eyes look a little blank, I suppose. But there wasn't a confluence of flaws that shouted "fake" to me initially. I don't know, maybe it's just me.
Here's a CG map of the woman's face:

The software for this sort of graphix isn't out yet, and it won't come out with the card. So for now you can only utiize this card to, I don't know, run two games of Crysis at highest settings at the same time. The card will be available for about the price of a low-end custom rig ($599 or thereabouts) and a somewhat less powerful card will be out later for about $399.
It's nice and all, but I'm not looking forward to games adding years onto their development times and millions of dollars onto their budgets just for this level of detail. For now this is all flash-and-dazzle eye candy, and it's pretty damn effective.
Here are some other rendered shots:
Looks like maybe an approximation of Dog from HL2A spherical room