intel might be the "daddy" of ray tracing - but they will never get anywhere in the gaming world - they don't produce drivers that have either the level of feature richness or the update frequency to support new titles...
I agree wush once this becomes more common we'll see it plastered on every possible corner til people are sick of it :S
Sorry, despite Intel not having a discrete 3d card out you're claiming, with BILLIONS in the pocket, with enough spare cash lying around to hire Nvidia's and Ati's driver teams, and increase their size by 1000% without batting an eyelid, despite that and with no proof you're saying they'll get no where because their basic and crap intergrated stuff lack features and constant updated drivers.
THe basic thing is, with that level of hardware updated drivers are rare because they aren't aimed at gaming and rarely have issues with new games, they simply either can't run them or run them on such low/pathetic settings the fancy features aren't even usable, which frequently means things run just fine.
In all likelyhood they've been buying up coding staff for years working on the new discrete sector. What they've done till now has no bearing whatsoever on anything they might be bringing to the table, and claiming you know different is just completely ridiculous. As per usual any way to say why Nvidia are better though
(and thats the first time i've used the rolleyes, i think, ever on these forums btw)
The real future aim of raytracing is that with every particle being rendered essentially through a realistic physics engine you can use it to map game physics at the same time through the same calculations, IE the scene renders every path of every piece of light and how it reacts, it can simply be told to assign a particle to a box, and calculate and render where that box will go at the same time(ish).
We're not there yet, we're years away from that to be honest(except probably some tech demo's, from any/all companies showing off ray tracing). We'll see more basic ray tracing engines to start with just the rendering being done differently without anything else moved to the gpu's. As with all things change takes time, and steps.
The problem will be for anyone competing with Intel is, their manufacturing capability, smaller and faster, cheaper higher yield, lower power than anything AMD/Nvidia can provide, deep, deep, deeeeeeeeeeeeeeeeeep pockets behind them also make it a problem. We're 3 years away from TSMC having real competion and probably 3 years away from seeing ATI/Nvida being able to use the very lastest process for gfx, they'll always be a half/full node behind.
As with all things though, mistakes happen, things don't work, Intel's first cards will probably be "ok" but nothing special, a card that will have to be very capable at non ray tracing "normal" games anyway but something that can introduce the industry/dev's to ray tracing. It just doesn't matter to Intel if its a total failure, they've got the money to keep going till they dominate. Quite why its taken them this long to get in the game I have no idea.