I hate to destroy any dreams here but... and its a BIG huge freaking massive but...
Allegorithmic's "new" techniques are not new; their "solution" is new. The product they are selling is a plugin that can generate textures from a set of variables; Procedural synthesis. What it does NOT do is compress an existing texture. This is what was meant when he said Developers need to learn how to use it.
The root of the problem lies in artistic flair, if your textures are generated by an algorithm then they are inherently mathematical : regular, patterned, repeating or fractal.
Whilst I don't doubt that some games can and will benefit largely from tech similar to this and probably from this solution too, I will say this ... artists don't like math and have an inate distrust of pixels they did not generate.
Elements this tech will be good at involve.
Asphalt
rocks
grass
tree's & foliage
noise
sky & clouds
textiles
fractals
normal maps for glass/steel/concrete
and many many more
what this tech is NOT good at is.
decals
photo-realistic anything
most games use a LOT of decals & photorealistic textures.
his estimate of 70% makes a HUGE assumption; that an entire game had EVERY texture designed using the tools they create. Sadly that tool cannot create a face, a hair style, an 'adio" shoe decal... so games which people in them simply cannot use it to the max.
It (procedural synthesis) will help - its already in use in many games - but it is not the saviour of all that is games nor is it going to ruin Blu-ray... it is simply another tool in our arsenal and in this case a product needing to sell and thus sensationalised by a sneaky headline.