1) As I understand things right now, TG2 renders a much more realistic image. That is to say, lighting and atmosphere are more "photorealistic" than an image rendered in mental ray, or in vray. Is this correct? Why or why not?no.
this is true of all all renderers
the 'photorealisitic' quality of a final image (not counting compositing, which EVERYONE uses) is entirely dependent on what you give the renderer and the technical and artistic quality of the artist...give me the worst/slowest/least flexible renderer ever made and I can make a more 'photorealisitic' image than someone who doesn't know anything about 3d...
the trick, if there is one, is to understand the strengths of the different applications and how to get the best out of them.
MR is a very fine renderer that has been around for years and can produce some amazing images...but so can vray...and prman...and mantra...
don't let anyone tell you that one renderer is better than another.
2) You can import a model from any major modeling program into TG2 as an object to render, and it will look better than it would if rendered in mental ray/vray. Is this correct?no.
see above.
and note that terragen doesn't support the kind of programmable shading that is available in something like MR or prman...
3) The only thing you can't render in TG2 is objects with complex movements, that is, an object that not only moves but also has parts to it which move, as in a bird or a man. Is this correct?no.
you can import animated geometry (of any complexity) into terragen...from a rolling ball to a Transformer...er...transforming.
4) If Question #3 is correct, then it would be better to animate objects outside of TG2 and composite, or is it better to transfer the TG2 environment into maya and render in mental ray?as in JimB's example...pick the application that gives you the best results...all things being equal MR will render a better car that terragen - no contest.
5) The only limitations to the renderer in TG2 as I understand it is 1: People say it is slow (this is true of all renderers?) 2: Animating object such as a bird flying or a man walking is not possible. It this correct?1. Slow compared to what? rendering what? compared to many commercial renderers Terragen is slow for some thing but very fast for others.
2. Terragen doesn't do 'deformations'...just transformations...so no, you can't animate a man walking - but you can import geometry
of a man walking.
Adding vray to the student bundle is just shy of $200 more, but if I want it I must buy it at the same time. Is it worth it? Or is mental ray good enough for film quality work?MR is good enough for film quality work:
http://www.mentalimages.com/gallery/motion-pictures.htmlbut the real question is..are YOU good enough?
and the answer is...not YET.
and this is the biggest problem with questions like these, and the reason why places like CGtalk don't allow the conversation at all, too many people just starting out in the industry expect to be able to get their hands on an application that they heard was used to make some film and start it up and produce 'film quality' or 'photorealisitic' work right away...and it just isn't possible (not counting the massive impact of compositing). I've been working in the industry for 10 years now and there are aspects of this work (mostly modeling and shading) that I'm terrible at...even after 10 years. The main reason is that I've concentrated on character work, not those other aspects of the job...the point is it takes a lot of work, often very boring, tedious, unrewarding work to get to the next level in anything you try to do in CG.
as for maya and mr and vray...
this is my $0.02 - forget about vray for now...
learn maya and more about CG, use mr and really try to understand why it does what it does and how you can make it do what you want...and after a while you may find that you don't need or want vray...or maybe you do - but at least by then you'll know
why you want it.
hope that helps