Even though photography and painting (or sculpting) have a lot in common with respect to the perceptive mind of the artist, I believe each of the two art forms has a different ideal or purpose.
Photographers capture the beauty of one moment in time, even when this moment depicts a subject in motion. A painter, who´s work takes a few hours to do, witnesses the subject matter over a longer period of time, and interprets a personal impression of it. This impression should be charged with the painter´s emotions and will give not only a more or less accurate account of the scene, depending on the style, but also a glimpse of the artist´s character.
For me painting in a realistic way does not mean trying to compete with what a a photographer can do, that would be a waste of time, as the camera can deliver so much more precision.