I don't think it looks amazing.  Its pretty good, but There are plenty of games that look as good if not better than that demo.

only at the end when it was changing the lighting did i think it was good..everything else was pretty simple...But if this will most likely replace Unreal 3..

they bake lighting??

Of course, at 180 degrees for 25 minutes per pound.

Why was that amazing?

They pre-render it essentially. Thats why a lot of games like say Infamous don't have a day/night cycle, its not dynamic its pre-programmed into the game.

Realtime Global Illumination? This owns everything...

It takes me fucking ages to pre-render global illumination in a scene using 3D software.

Here's an Cryengine 3 Tec Demo from back in March running on Xbox 360 and Playstation 3 hardware. There are lot's of little issues mainly to do with the shadows but this was early footage. This may interest some of you more.

thanks-adds that to recipe book-

The first Crisis engine 3 footage was more impressive.

The palace in this demo was only slightly better than Assassin's Creed II grafix. It's strange when the camera moved in the house it said 112fps but it looked like 25 fps with lots of tearing and stuttering.

This engine still a lot better than Unreal Engine, but the sad thing is that Critek doesn't seem to be able to sell it to anyone. I only heard about one or two games in development with the Cri-Engine2, and none with CriEngine 3 so far.

Too bad Crytek's games since the first Far Cry are all shit. One can only hope that another dev that actually knows how to make games utilize it.
I also hope that the physics are more realistic and not like in Looney Tunes as in the current engine.