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Nowhere near Panic Mode yet. Support for Unreal Engine 4 and Frostbite 3 will come at a later date when the marketshare for the Wii U makes it necessary compared to the marketshare of the other two. And that's going to happen pretty soon.

The launches of the PS4 and 720 are going to be no better than the Wii U, and that year head start is going to be as beneficial to the Wii U as it was last gen with Microsoft and the 360.