Howdie.
I assume that TG2 uses the Monte Carlo Method, or its equivalent to deal with GI. If so, rendering time will ALWAYS be slow even when optimized. But I understand this when using programs with GI. Your'e talking about a s___load of numerical calculations and whenever you have to do that (whenever there is no quick, analytical solution), even with optimization, it will still be slow. Years ago, I played around with something I called the "Gigacube". Purely theoretical, it was a virtual volume 1 billion pixels per side, so that you could conceivably be immersed in a virtual 3D world about 20-30 miles on a side, with no pixelation visible to the viewer and real-time 30 frames per second. And that was ONLY ray-traced, no GI. I calculated that roughly 100,000 times the present (late 1980s) processing power would be required to pull it off. So you see, the math is what it is...we live in a particle-based universe and to precisely model that universe, you need to rely on particle-based methods, or algorithms that can SIMULATE particle behaviour. Optimization will only take you so far. The burden truly falls on the machine's processing power to take us to the next step and I would imagine that would be heavy parallel processing in a compact form. We "aint" there yet by a long shot, but it's coming as new technologies come to bear. 5-10 years? 20 years? Who can say, but certainly within our lifetime.
But back to TG2...I LOVE it. I remember back in the '60s when I dreamt so hard that I could have a COMPUTER! Like Will Robinson's little compact dealy he was playing with in episode 2. Well, here we are, and I am thankfull and fortunate to live in a world where a truly lifelike scene at 3000x2000 pixels can be rendered at all. Put what you have in perspective.
For those of you with limited budgets, I can only suggest to try and find SOME way to purchase a second computer that you can let render from here to eternity and not have it interfere with your regular computer's use as a general purpose machine. There are killer deals out there around $700.00 US. Not bad for 2008. Then all you need is some Zen-patience, not a bad virtue to practice. And the render farm prices are coming down too. The movie studios have nothing to worry about...if they feel they need 1000 machines to render some scenes, they'll fork out the bucks. And since TG2 can deliver the quality, the studios will grab it, when it fits there needs.
Anyhoo....I'm out of breath.