Well, I'm just started reading about PBR. But I don't agree with you, and I really don't think that it's "just a buzz word". There is a reason for that big studios are using PBR (EA, RockStar, Blizzard, Dice, etc).
I would say PBR simplify things A LOT! Especially the workflow.
"Basically: instead of current lighting techniques like using multiple diffuse textures/specular maps for each part of every object in the game to represent different conditions, they can just create 1 texture for each part then artificially define properties like a refractive index to help parameterize a physics model that controls how light and shadow work when rendering frames of an in-game scene that contains that object.
In most implementations the physics model basically uses a predictive set of converging functions to determine how light from a specific source will reflect/refract off a given surface with different reflectivity and absorption/diffusion characteristics, which then refracts and reflects off other surfaces at a) different angles, with b) reduced intensity and c) a different wavelength, etc.
In productivity terms: people creating textures for in-game assets now have to spend less time creating multiple maps for each surface because they can just say "this panel is steel" or "this seat cushion is leather" with specific reflectivity/diffusion/texture/etc. rather than having to create multiple different copies of them that behave differently under different lighting conditions (such as in space, in atmosphere, indoors, etc.)
In visual terms: different types of surfaces (such as metal, leather, plastic, glass, etc.) should look more photorealistic and more "natural" because the way that light reflects off them and the way shadows are created will be more accurate."
If RELOADED wants to be a modern engine I think PBR is worth looking into.
For users that are interested, here are some really good reading:
https://docs.google.com/document/d/1Fb9_KgCo0noxROKN4iT8ntTbx913e-t4Wc2nMRWPzNk/edit
..and here is a good video:
https://www.youtube.com/watch?v=LNwMJeWFr0U
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