Rockstar announced GTA V for the PS4, Xbox One and PC at E3 2014 and the trailer they released was pretty spectacular. We've put it below just to show you how much the graphics have been updated for the next gen consoles. Everything in the video below was taken from the PS4.
However without side-by-side comparisons it's pretty difficult to tell how much of a difference there is in graphics. So here are some side-by-side images. The differences are amazing and may be well worth paying the full price and playing through the campaign again.