Yes, that's right. The rendering in the game is stellar, though there is an extra layer of antialiasing when you take still shots, which you can then upload to the Forza website from the game. I used an environment ("homespace") that somewhat matches the illumination of my car's photo, and I tried taking the virtual photo from the same perspective as the real one. I came close.
The cars look awesome in motion in the game too, which runs at a full 60 fps. I love watching the replays.
Edit: Also, the accuracy of the car model is outstanding. I know my car very well, after 16 years. After examining the model from every possible angle, including peering into the interior, I can say everything is just about exactly right. The differences I've seen I checked online, and sure enough, they're all due to the deletions in the racing-only Cobra R model. (For example, no rear seat and no radio.) Whoever put this together spent some quality time doing it right. I can't say that every single car model has this level of accuracy, but I suspect most of them do, after this experience.
