YouTube does footage no justice
YouTube can't keep up here, but you can at least watch this direct footage from Forza Motorsport 5 to get some idea of what the Xbox One can do for racing games. Even after being butchered by compression and frame rate changes, you can see that this launch day (November 22) racer is going to look good. If you haven't seen it in person yet, you'll just have to take my word for it that this Alps course looks amazing in 1080p, running at 60fps.
Speaking of courses, Microsoft and Turn 10 have confirmed that the Silverstone Circuit makes its return in Forza 5. They say they "laser-scanned" the course during development to provide the most accurate rendering. You can have a look at their work in our gallery.