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Hisiru said:

1. So... it's also running beautifully on 360 and it will run beautifully on WiiU, what's your point? And what makes you think we will see the toad rendering on PS4/x720? Looking at the leaked specs I am not sure if we will see it even on the x720/PS4, not with all those details and dynamic enviroment.

Yes we don't know, it most likely will.

2. Epic don't want to support Android, but now Gameloft is developing an UE3 game for Android and Iphone, it doesn't really matter if Epic doesn't want to do that, really. Epic also had no intention of supporting the Wii at all, but there is some UE2 games on the Wii. It's up to developers, if they want to port the games, they will do it. Ubisoft already said it costs around 1~2M to port games for the WiiU and they can easily have a good revenue with just 200~300k copies sold, that's how multiplatforms survives on PC. Games will become more expensive to develop, don't you think developers will make anything to have more money?

"The third and current generation of the Unreal Engine (UE3) is designed for DirectX (versions 9-11 for Windows and Xbox 360), as well as systems using OpenGL, including the PlayStation 3, Mac OS X, iOS, Android..." - Wikipedia, Unrealtechnology.com as source. 

Notice the Android platform that it's running on.  And Epic has stated they're not porting Unreal 4 to the Wii U.

3. Not really an issue. It won't be able to be as powerful as x720 or even PS4 (which looks weaker than x720 so far, but most of the ram on the x720 is focused on multimedia/Windows 8), but then, PS2 wasn't as powerful as xbox1 (xbox1 is probably 3~4x more powerful than ps2 lol). If the WiiU can have ports and make money, there won't be any problems. 

Again I know Nintendo is making the most balanced machine that they can make, I'm not knocking the hardware.