Amazing Commercial
I can’t believe I hadn’t seen it before, its 4 months old
It really makes me think
In 6 months when cycles becomes faster and Tomato’s object tracking improves, something like this would be possible in Blender
Something like that is possible in Blender.
Tomato needs to mature a little more before this becomes possible
Cycles is very slow unless you have a very expensive graphics card
I see absolutely nothing here that can’t be done with blender 2.61
Currently cycles doesn’t support particle hair and volumetrics
I’m not sure about that… That massive smoke simulation must’ve required a lot of resources even if rendered in a modern render engine. This and all the other reflectivity, hair simulation etc. would probably make redering it in blender renderer impossible, because the render process (and test render) would be so slow that not even the real professionals would be able to finish the film in even close to a reasonable time.
In this rendering aspect you could compare blender to ms paint and the commercial software to photoshop… of course an absolute pro could create the same masterpiece in both softwares, but timewise he has to stick to photoshop 
So in the end I have to agree with organic, at least theoretically it’s possible and there is this one film that is currently being produced by some guys that reaches this quality with blender. Just check blender’s showreel, it’s in there.
Use mesh hair, or render hair in BI, or use another render engine.
Use smoke from BI, Or use another render engine, or try to fake it.
I’m talking about Blender ONLY
Mesh hair won’t interact with anything, it would just stay still
Faking volumetrics in Cycles with BI might work
I’m talking about Blender ONLY
Do you expect this video to be made with only one app?
Once Cycles and Tomato improve, Yes
at the rate Bretch and Sergey are working, it won’t be very long
I love that commercial 
Fur - Houdini
Matchmoving - SynthEyes / 3DEqualizer
Animation - Maya / Houdini
Rendering - Renderman / Mantra / V-Ray
Compositing - Nuke / Flame
One heck of a software combo used.