Quote from Pericolos0realtime radiosity is still far off =).
not really
see for yourself in this downloadable demo:
it works quite nicely on my (mediocre) laptop. ofcourse this is only a demo and a really small scene, but there are other realtime radiosity implementations which may work even better. we'll see how long it will take to successfully be working in a game environment but i dont think its all too far off.