When they talk about ray-tracing, they don't mean that real-time ray-tracing at 60fps is suddenly possible. We're a decade if not more away from that. They're talking about extremely limited applications for a few effects here and there, in specific scenes. That's what's been demoed so far.

NVidia has a bunch of demos with their newest hard-ware. The "Stormtroopers" demo was rendered in real-time, but on a very high-end >$60k workstation.