Mark Rein from Epic Games revealed a new next-gen focused version of Unreal 3 at the GDC 2011. No footage is currently available but those who have seen the demonstration claim that it looks just as good as CG. The demo ran using the power from three Nvidia GTX 580s. Mark Rein stated that none of the current consoles will have the ability to handle the engine at its full potential. He also made it clear that they didn’t develop the engine with the current generation of consoles in mind. Rather they want the hardware developers to come out with products with the demo in mind. This means that we won’t be seeing games developed for the engine till a few good years.
This is our proposal for what the next generation of gaming is going to be. The whole idea behind this is to tell the hardware manufacturers that this is what you should be doing down the road.
Another thing that’s awesome is that the engine now scales all the way from an iPhone 3GS up to next-generation hardware. That means you could theoretically make a game that’d run on every single one of these devices. Mobile phones to tablets to set top boxes.
They made clear that all the stuff shown there was just for demonstration purposes and it was not a new game. Mark also said that if he were to give the engine a number it would be Unreal 3.975. You can check the screenshots below.