It might not be running at 60fps, but it looks damn nice and I want it now.
If you didn't catch the footage from the PlayStation Experience conference, Digital Foundry has broken down and compared some direct footage of the Crash Bandicoot remaster with footage from the original PS1 version.
Most of the work has gone into image quality. The game's locked to 30fps, but there's physically based rendering, a lot more shaders, and plenty of dynamic lighting. It still looks like the original Crash Bandicoot though, much in the same way the Ratchet & Clank reboot kept the spirit of the original.
The Crash Bandicoot remaster is due out in 2017. It'll come with checkpoints, manual saves, a unified menu system, as well as reworked gameplay and levels. (It's hard to reuse code that's 20 years old, after all.)