I actually miss the big full cgi prerendered cinematics that use to come in between each level or when something important was going to happen. Ah the good ol days like FF7 and so on. I think Half-Life and HF 2 was the first game to get big recognition as far as the big introduction and implementation to in game cutscenes as far as the game console world is concerned. Atcually this is considered as no cutscenes, but rather called scripted sequences in where the story unfolds while the player still has either full or limited control of the character during the in game cutscene so to speak. Machinima is a good technique too which we have all experienced if you have played any of the Metal Gear Solid series. Were your watching a cg rendered or in game scripted scene and you have part control over it. Like changing camera angle and the like.
I kind of wish all three methods would be put into games all the time, but it increases production time and takes a lot more planning and development on how and where to implement each method into a particular game so that it fits or flows properly.
I do sorely miss the big prerendered cgi cutscenes as those were always my favorite. Game devs have gotten rid of doing those nowadays since the real time graphics in games today can rival or exceed prerendered cgi cuts that were done even a couple years ago. Plus it is far cheaper to do an interactive in game scripted sequence than to bother with a prerendered cgi cutscene. Although Prey 2 already does have a prerendered cutscene so to speak with the fancy cgi trailer they made for it. Id like to see both that and in game scripted story telling sequences for Prey 2. I think that would give it the perfect balance and feel to the game.