I am unable to get better quality renders from Iray compared to the native renderer in CC3. What the hell am I doing wrong? I am using 2000 iterations in Iray and it takes a few hours to render. I usually end up with a flat-looking image with less detail and even some shadows with artifacts. What am I doing wrong??? Yes I have tried with and without denoiser as well as with the shadow artifact fixer. 

Did you set up the scene, lighting etc, based on how iRay behaves or just took a normal CC3 scene and rendered in iRay?

Do you have the render settings in iRay set to high quality?

I think the iRay render looks better. The CC3 looks like a 2009 video game with an instagram filter over it.

Like Edwin mentions, lighting in Iray works different from iClone and needs to be set up carefully.

One big difference is that IBL in Iray gives shadows, whereas in iClone it provides overall background lighting. This plays particularly when you have an indoor scene. 

In the Iray render, light comes through the window, which is as you would expect.

The size of light sources in Iray determines the sharpness or blurriness of the shadows, so that's something else to play with.

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One thing I can advise is to delete all your iClone lights.
These are old-school 'gouroud' shading lights and make iRay renders look plastic. The directional and spot light algorithms are more than 30 years old!
Modern lighting uses Global Illumination:
Import an HDR file for the environment and try to light your scene with that alone. (a common mistake here is to import a JPG for the environment, but this does not 'emit' light like an HDR file)
Add GI ovals and rectangles only where needed, but these area lights should give a much better result than the other lights.
Use the AI Noise Reduction and you will only need around 200 iterations.
I think this will give you the photorealism you're looking for.
Here's an example using no lights and 200 iterations. It rendered in under 1 minute on an RTX2060.

Interesting... So don't use any lights at all? I will give it a try. Thank you. I do however notice a huge difference in the eyes. The base ones just look better. Are the shaders not getting converted correctly?

Anyone using IRay is a Beta tester for an Alpha product.