Smartphones can run the UE4
But its a difference if you get (below) Low Settings or Max out the Engine(with a PC probably)
The PS360 can run Battlefield 3 and this game is using their NextGen Engine the Frostbite 2 Engine.
But the difference is that the Console versions are completely different(less players,small maps,not the same effects and everythingelse) but they run the FB2 Engine.
The CryEngine 3 is running on PS360 too and the Luminous Engine in some parts(lightning effects) is already used in Versus13.
Being able to run a "NextGen" Engine on outdated hardware(smartphone for example) means nothing.There is a wide range of available settings and how close you are to max them out.
In terms of raw power and i think this is what defines "NextGen" the WiiU is probably not in the same league as the PS4 and NextBox.







