http://www.fxguide.com/featured/the-state-of-rendering/
http://www.fxguide.com/featured/the-state-of-rendering-part-...
What's interesting is how far Pixar's PRMan has fallen within 2-3 years, despite PRMan 19 (current in alpha) going to provide BDPT with vertex connection and merging (state of the art lighting equation).
The problem is, despite providing the above, they're still getting some of the basics wrong, and Geometric lights still aren't being sampled correctly, in addition to:
Even with fully raytraced (i.e. no REYES) setups in it, its instancing support is still fairly pathetic, and its texture paging support is shockingly bad, even with Pixar-proprietary pixar format for images.
Once by far the dominant renderer in VFX, Arnold has come along and knocked PRMan off its perch (although Arnold still has a few issues as well).