voodoo extreme has some unreal ii info. i find this quote most interesting:

“The path from here to photo-realism is now incremental,” says Sweeney. “It’s still five or ten years away, though, because it needs huge processing power. We need more speed, more precision in color components to let us move up from 32-bit to 64- and 128-bit, but there are no major improvements to be done.

we’ll see