That's exactly what I think every time there is a reference to the Oblivion Blu-Ray. The way it was shot (for maximum clarity/detail) and mastered makes it almost impossible not to look great. It looks "almost 4K" on any decent display.
In fact, I have similar feelings when I hear that Pacific Rim was made to demonstrate contrast. Pacific Rim is the contrast-version of Oblivion, in that it has just about the MOST contrasty image - constant surreal-neon-bright light machinery against the deepest black backgrounds - which you basically can't really do badly. It's just going to look punchy has hell and high contrast on any half-decent projector. You really need a combo of high contrast AND low contrast dark scenes to start seeing what a projector can really do in terms of black performance.
One thing that does bode well I guess is that no one has yet reported seeing the dynamic iris making itself known on the JVC demos. I dunno...either JVC is actually leaving the DI off and saying it's on...or perhaps they've come up with the best implementation we've yet seen.
One more thing: Today I attended the TAVES show (Toronto audio video show) and watched content on the big Samsung 4K displays, and finally saw OLED in action as well. Three things stood out for me:
1. The samsungs showed how 4K truly is a step beyond 1080p resolution for images (duh!).
2. In terms of a replicating-reality level of detail, we still aren't there. Or at least, as implemented by Samsung. While it showed more fine detail than available in 1080p, It still wasn't real-life levels of detail. 8K...?
3. The Oled looked superb in terms of contrast, though not knock-me-out obviously better than the samsung 4K displays, at least under the lighting conditions.
4. Living with JVC's E-shift (making pixels invisible) and also having stared at various 4K panels in the show, as good as the contrast was on the OLED it also felt like a bit of a step-backwards in terms of resolution. I just found myself more aware of the lower pixel count in the image.