A company which actively develops software has the ability to snapshot a stable development tree and call it a "New Engine"? Shock horror.<p>Fans of these games blatantly don't know what an engine is; the difference between a graphics library and a suite of tools and code to create a game.<p>Perhaps they are excited because the Valve developer wiki and Source Filmmaker have been teasing newer versions of the tools like Hammer, built with Qt.<p>Valve have never been one for pushing the limits of GPU's, like Blizzard, so they don't limit their audience. id tech, unreal, and crydev are the ones showing off what they can do with OpenGL/DirectX, not Valve.