So I spent some time just checking some of the stuff at GDC out this afternoon.  I got to check out Epic and Unreal Engine 3.  It is really impressive what they have crammed into that tool.  Matinee their cinematics tools was crazy powerful, as was their visual scripting engine Kismet.  Just shows lots of flexiblity from the brief part that I saw.  Probably the most impressive was their post processing effects.  Just by some clicks they can make a map go from day to night just by changing some of the color lighting values.  Other neat effects like FOV, depth of field, and color correction are all in there as well, editable in realtime.

Also took a quick peak at CryEngine2, which had some really impressive things going on as well.  I actually need to spend some more time with it before giving some real impressions.

I have been meeting all types of people from all over the world and it is great.  Tonight is the Suite Night as well as the XNA party.  Should be fun.  They need a massage station at GDC, my back is killing me...