USS Voyager in WebGL
Lucas Meadows stashed this in WebGL
"USS Voyager is a WebGL demo created by Will Eastcott (co-founder of PlayCanvas) using a model by Flat Eric."
I think that this demo shows that it's now possible to render graphics in WebGL that are on par with late 90's video games. But on my home connection, this demo took probably 30 seconds to load, so it seems that bandwidth limitations will be an issue for these games for a while. I thought the Cube 2 Sauerbraten demo had the same issues, though the graphics were impressive (it reminded me of playing Quake II in high school).
Maybe the way around this is to have users download a package of all static assets, and save the IO for more high-level data and processes. I don't know much about game development, but something has to be done about download times before this technology can be productized.