Had anyone read
John Carmack's thoughts on RT?
I think he's hit the nail on the head in saying that "future" renderers will use both raster and ray-traced graphics.
For things that can be rasterised easily, rasterize them!
For things that can't be rasterized easily, ray-trace them!
It makes a lot of sense really - a ray-traced pixel can still output to the same frame-buffer that you're rasterizing into (same depth buffer, same G-Buffer, etc, etc). You can even use the same fragment shaders on pixels that come from either a ray or a raster!
Also, his idea of using a ray-tracer for a sparse voxel quad-tree is much more justifiable then just making a ray-tracer that still uses triangles.