The engine is absolutely beautiful, amazing technology, there particle effects alone are the most advanced i've ever seen. The recent video shown at GDC is so amazing you'd actually think it was prerendered. Looking back at all those PS3/360 is it real teasers where if your a PC gamer you knew it wasn't ingame, but this is first video that made me wonder, obviously this is real considering there other stuff and it on the PC (taking vantage of all that processing power, video memory etc...) and that post processing motion blur shader really makes it cinematic.
The video in question:
Project Offset GDC 2009 Meteor Trailer
A dream is a fantasy, if you achieve that fantasy it was never a dream to begin with.