Nigh perfect? I agree some of the stuff in the background looks great, but literally on that image you posted the log bridge on the left almost entirely clips into the wall and the wall right below it is clipping through the MIDDLE of the grass. Obviously the game is kind of fast, so you are not supposed to notice those things, but still!
Also, the video posted was great and all (I watched it a lot. A LOT.), but I noticed some weird things. The most obvious is how in the Modern Sonic sections the time shoots back and forth, which is likely video cuts made by SEGA, and the really weird one is... The section where he loses his rings... He has 62 rings, but loses 49. W T F
So where is Sonic the Hedgehog 4: Episode II? Now that I have seen Sonic Team is entirely capable of a normal classic styled Sonic game, I really want to shit all over that game.