i looked into the whole realistic thing some more and got a little information...
More Realistic Skating
I can't be too specific here due to lack of information, but as Noe detailed in his E3 Preview, there will be some new changes to the fundamentals of the skating engine. He points out that even kickflips will be affected. By this it's stated that "You simply cannot just ollie and do a kickflip. You have to be going a certain speed, ollie at a certain height and/or flip the board and catch it clean to land the kickflip." Noe continues on to say that reality hasn't taken out the arcade-style fun, but rather it may enhance the pacing to make it more rewarding.
Focus Mode
The focus mode will return with some interesting additions. More of a functional way of skating, your character can perform special flips while in this mode now. By utilizing the analog sticks, you can control late flips and underflips by tapping directions. This can be seen in the first gameplay footage (see the THP8 Movies page). It looks awesome and should provide a stylish way to add depth to the already incredible trick system.
Breaking Bones
I fear the concept of this may diminish the feel of the game, but now you will be able to control your character as they bail. In this manner you can attempt to hurt your skater as much as possible, and be rewarded by it! This will have ragdoll physics, so expect some absurd and utterly painful bails. The left analog will control the character while the right will control tumbling and rolling. Here your special meter will be replaced by one which counts the number of bones you break. Gone will be the tantrum feature and some goals will actually ask you to hurt your skater as much as possible (thus ensuring a T rating at least! heh.) A new stat has been created for this purpose. Fortunately, returning also will be the ability to quickly get out of a fall.
New Multiplayer Mode
Returning will be all the functionality of online modes in the past. Xbox Live will carry all the gameplay modes as well as extensive high score tables. The current-gen titles will likely contain everything they had in the past, but nothing is known about Sony's plans for the PS3.
One new game available in multiplayer is Snake Mode. Here skaters leave a trail and attempt to box each other in, much like the old game snake.