According to Epic, a preview of its "next-generation game technology" will be shown to "select licensees, partners and prospective customers during the exhibition." The company notes that "space is very limited" and that the presentation will be viewable by appointment only.
This follows the Samaritan Unreal Engine tech demo that Epic revealed at last year's GDC. Last year, Epic's Tim Sweeney told IGN that Unreal Engine 4 is "technology that won't see the light of day until probably around 2014," so the actual release of the engine could still be quite far away.
At the time, Sweeney described the tech as doing "some really cool things that just aren't practical today, but soon will be." He added that Unreal Engine 4 is "exploring areas of the technology nobody else is really yet contemplating because they're still a few years away from practicality."
GDC will take place in San Francisco from March 5th through 9th.
Source: IGN
I have high expectations from this engine. Unreal Engine 3 had a great amount of potential and was exploited to the max by many developers, but as every other engine, it's aging out.