Via Shacknews, we see some new shots of Rage from SIGGRAPH 2009, where a talk given by id Software senior programmer J.M.P. van Waveren included a whole bunch of stuff about the "virtual texturing" in the new engine. There's a handful of environment shots on there, and they look incredimentary. This could well be the next game you build a new PC for. The full PDF is here.
Oh, and in case you've not seen it, there's a big old Rage teaser site here.