2x2 sparse grid supersampling in every game!
Not a single visible jaggie.
As for R700 being "4 year old technology" well so is NGP but I didn't hear many complaints about specs in that reveal thread.
Consoles will never again get close to the high end PC market, ever increasing power draw has put paid to that and the "featurest" of a GPU is becoming increasingly less important, now that we've to a fully unified and flexible shader architecture. There's really no effect or rendering technique that couldn't be adapted to an r700 GPU in a closed box environment with no fixed API. Its telling that a lot of the major breakthroughs in DX11 actually run on DX 10 hardware in some form or other, that a console GPU doesn't support an endless list of new PC texture formats or strictly adhere to a list of arbritrary requirements is mostly irrelevant in the console space.
Its already been proven that AMD's DX10.1 GPUs are more area efficient and in a closed box where you have a fixed power and transistor budget, the more area efficient the architecture, the faster the GPU you can include. As long as the festureset is modern and flexible enough (and it absolutely is) it really doesn't matter how 'old the technology is, just how efficient it is and if r700 is more efficient (as figures would indicate) then its the smarter choice.