It won't happen. The PC version is still designed for the lowest common denominator by using low resolution textures & not making use of modern hardware anti-aliasing methods. They're on the record stating this is because they don't want to give any one person a vastly better experience due to them owning expensive hardware.

Until the support for PS3 is dropped altogether there won't be any major updating of the game engine or graphical subsystems. Hopefully that will happen in 4.0 but there's an extremely vocal PS3 userbase who may well ensure that PS3 support will remain & the rest of us will continue to be stuck with a pre-Millenial game.