At GDC, Epic showed off the most bleeding-edge version of Unreal Engine 3. It was so advanced that it could be called Unreal Engine 4 -- except that it runs all on present-day hardware. Of course, it took no less than three GeForce GTX 580 in SLI to get this done, but it's amazing to think that something like this is possible with readily available hardware. Now all we need is the software.
You've seen the screenshots; now feast your eyes on it in motion:
And just in case you wanted to see some of the high-res stills, here are the screenshots once again: