I think it's the engine behind it that is the big difference they're telling us. You can use many different engines and achieve the same effect. Knowing SE's past games from all way-back-when, I'm guessing the new graphics engine will be faster, and they'll capitalize on it in some interesting way. Ala-rendered-backgrounds on the PS, and the FX-chip in the SNES.

I think I also read somewhere that it will be made for lower and higher end machines, so people don't have to get a rig that can play the game at 1080p on three monitors, but giving us the option to do so. They're showing us some of the best shots they have at the moment from that engine.