Old I know, but still an amazing video. I can't wait to see what Crytek has come up with SINCE that.
Considering that the new tech demos are all in a city, and don't show off the rain shaders - ripple effects and reflection. They don't show off the damage to the geometry, nor the soft shadows and other dynamic and streaming content in the CryEngine 3.
View at 6:48 and beyond mainly! >>>>> Rain shaders - ripple effects and reflection.