you think that dreamcast was ahead of his time? Check THIS!

Exactly. There was a trend in the demoscene for a while to show that they could do game effects and/or scenes in a 64k or even 4k demo.
Ofcourse, flightpaths and actions were scripted, but the effects were all rendered in realtime. Often without many speed optimizations, though.
Omniscent was the Descent 4K, check that out, it´s even more impressive imho.
FR08 was the 64k though that really revived the demoscene. Suddenly you had something which was until then done in 4-6mb demos presented in 64K. Noone at the partyplace actually knew when they looked at the computers of the Farbrausch crew that they were aiming for the intro competition, everybody thought they´d enter it as a demo.
I think it was "one of those moments" demoscene-wise, like when "Second Reality" by the Future Crew came out. (still one of the best timed/synched demos today in my opinion, the soundtrack is absolutely gorgeous)

 

hmm amiga 500 i find the 8088 coruptiion thing more impressive http://www.oldskool.org/pc/8088_Corruption full motion video on a xt wow