As I am sure a lot of you are, you have seen or played with the Unreal 3 Engine. I know I got overly excited when I first saw it back in my college days, not too long ago but still. Needless to say, but I'm still going to say it, it was beautiful and I couldn't look more forward to it. Now this drops out there in cyber land and I am actually curious to see it. That and it will go mainly toward Consoles instead of for PC games, at first.
While yes it should be a better engine that 3, although I can't really fathom it ATM, there is one cool thing I can think of with this kind of release. It will be the first real engine that will be available to Moders or Designers for consoles, that your average user can afford. If they keep the "You Get The Engine Free For Buying The Game" thing going with their products. I know I'll be very excited to get something like that. Below is the release that was given.
"We have a small Research & Development effort dedicated to the Unreal Engine 4. Basically, it is just me, but that team will be ramping up to three to four engineers by the end of this year - and even more one year after that."
