Some folllow-up on the Unreal Technology update story from yesterday via BluesNews for you guys. Several people seem to be under the impresssion that this an entirely new technology, however that isnt exactly the case. Here is a bit from Mark Rein on the subject:

The correct name of our engine is simply the Unreal Engine.

We probably made a mistake naming the first game Unreal when we should have called it Unreal <something> like we did with UT and plan to do with our next title. We always refer to it as the Unreal Engine and not as any game-specific engine. Of course you're correct in assuming that this technology, and more, will be used in Unreal2 but we do not call it the Unreal2 engine.

These shots do not show a new engine they simply show new features recently added to the Unreal Engine. We simply think of the Unreal Engine as an ongoing technology that gets improved all the time. It's like the Corvette. The current version of the Corvette is way more technologically advanced than the original Corvette released in the 50's yet they still simply call it Corvette. That's the way we think of the Unreal Engine. [...]