Avatar has really impacted the visual effects and digital cinematography industry in a huge way, bringing previs, CG rendering, motion capture, and direct video into a single seamless real-time package that opens a whole new world to directors and filmmakers.  AWN has a great writeup on what James Cameron and Rob Legato were able to accomplish, and what it might mean in the future.

Thus, thanks to the virtual cinematography workflow created by Rob Legato, allowing Cameron to observe directly on an LCD monitor how the actors’ CG characters (or avatars) interact with the CG Pandora in realtime and direct scenes as though he were shooting live action, digital and live action moviemaking have become one. In other words, everything you've heard or read about the new digital paradigm or 5D has now become a reality. Which also means that pre and post are obsolete, compositing will have to be redefined and so might previs.

via Avatar: The Game Changer | AWN | Animation World Network.