Square Enix’s Luminous Engine turned a lot of heads but there’s a reason for that. It was running on a GTX 680 with a generous helping of RAM, however, we don’t know the status of next-gen consoles and their specs, except the Wii U.
Creative Director and Senior Managerof Square Enix Takeshi Nozue has mentioned that RAM size has been the biggest challenge for them.
“Memory size is the biggest challenge. The texture quality in the Agni’s Philosophy demo is an enormous drain and it’s clear that the next-generation consoles will have to carry a fat wedge of RAM if they’re to support Square’s tech,” he said.
It remains to be seen how much RAM the PS4 and Xbox 720 will support, but as far as the rumours are concerned we can expect them to be more than 3GB. However, all this is just speculation at this point.