it will peak in 2012 when the world explodes
That number is based on astrology and superstition. Won't happen!
Using life-size textures might not be a good idea. The graphics cards would be overloaded easily. Although you could make very high resolution textures.
PS: They already can model things using lasers. The technology was used with ARCA SimRacing when they modeled the tracks for that simulator.
I don't really think there is a 'peak.' Just put out higher resolution models and textures (to amaze users of your accuracy but overload their graphics cards) and make sure the physics are accurate and put out new tracks and vehicles. Plus, you can always add more features to a program with DLL's (if the program supports third party DLL's and if you know enough C++ to do it).