They have terrain shaders that look really nice, although they currently don't have any great cubemap blending solutions or projection correction for cube maps, they are working on it.
I could see it working well enough for something completely outdoors or something that is mostly in one room. You can mix it with baked light maps pretty well, so that isn't an issue.
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[ame="http://www.youtube.com/watch?v=m3zCzTMKwao"]Skyshop Tutorial | Terrain & Vegetation Shaders - YouTube[/ame]
Here's what it should be able to do soon https://dl.dropboxusercontent.com/u/33311247/skyshopBPCM/boxProjectWeb.html
I could see it working well enough for something completely outdoors or something that is mostly in one room. You can mix it with baked light maps pretty well, so that isn't an issue.