Some screengrabs of the video with more info:
"the target is CUDA implementation because it is fast and flexible enough. BDPT, MLT, tesselation, displacement mapping, hair/fur, texture filtering - sure, will be CUDA-based.
Programmable materials can be done in CUDA. But an additional idea would be to port some existing CPU/C++ material shaders to work with our GPU compute building blocks. Voxels are not yet planned. But they can be potentially implemented.Our goal is to finish the TODO feature list by September 2011. The concepts are pretty simple, but all the devil is in details. The future work is engineering. Almost all research was already done.
The website will be created this or next week. This demo shows what we can do now."