There's a good article on fxguide to follow up with the visual effects video they just posted as well. http://www.fxguide.com/featured/unreal-engine-4-next-gen-gaming-effects/
man-- lucky guy. The closest I got to Unreal Engine 4 was at their GDC booth this year, it was nice seeing folks showing the studio demo in real time UI - :D
[ame="http://www.youtube.com/watch?v=vxFxfpNhvbY"]The Future of Next-Gen: Unreal Engine 4 Interview with Epic Games VP Mark Rein at GDC 2013 - YouTube[/ame]
comparison for video.. this is the pc. its a big jump i think. [ame="http://www.youtube.com/watch?v=lY20pxEQM-A"]Unreal Engine 4 Elemental Demo [1080p] - YouTube[/ame]
I heard a talk by someone from EPIC towards the end of last year and the UDK version of Unreal 4 was planned for around this summer. Did say things could change though.