Zar, at first you scared me. I was thinking that there would be no use for the texture artist, then I realized how untrue that was. I don't doubt the ability of the post D3 era engines to mimic most materials to some degree, but I truely doubt it will spell the end of careful artistic manipulation. I doubt there will ever be an engine that can generate procedural lips, tree leaves, or bark.
Wish I had more time to finish this thought, but I have to run... quittin' time.