The Inquirer heard the Unreal Engine 3 for the PS3 is taking shape:
It won’t be the launch title, whether we talk about Unreal engine 3 or your actual Unreal Tournament 2007. It is planned that the real game should show its face at some point in the year 2007.
Epic never wanted to be on the launch title bandwagon as you have to nail yourself to the deadlines and these guys like to make their own rules. We know that Epic actually shows the demo of Gears of Wars for PC and the VP chap was misquoted, as the guys want to present their gaming stuff as a revolutionary, not the Sony’s Playstation 3.