This I3D 2010 paper by Anton Kaplanyan (Crytek) and Carsten Daschbacher (University of Stuttgart) is now online on Crytek’s publications page, with video and talk slides. The paper extends and describes in more detail the real-time global illumination technique Anton presented at SIGGRAPH 2009. The most significant extension over the SIGGRAPH 2009 presentation is the addition of coarse occlusion for indirect bounce light.
Although there have been many recent papers on “real-time” global illumination, this technique is the only one so far that is at all feasible for current-generation consoles. Crytek’s new CryEngine 3 has implementations of it on XBox 360 and Playstation 3, and the technique will presumably be used in the upcoming Crysis 2 game as well.