During a closed door session at GDC, Epic's mark Rein showcased the next-generation of Unreal Engine 3, now just keep in mind that the current-gen consoles will not be able to run this "mind blowing" tech.
“This is our proposal for what the next generation of gaming is going to be,” Rein said as the demo began. The demo was running on 3 GTX 580s and is "just a tech demo".
He later added, “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."
