(L) [2006/05/21] [fpsunflower] [Razor] Wayback!a new rtrt engine:
[LINK http://www-csl.csres.utexas.edu/users/billmark/papers/razor-TR06/]
edit: Well after having read it, its not realtime (yet) but it certainly tries to address many of the shortcomings of ray tracing systems. A good read. I'm glad to see more research being done in this direction.