Take a look at the next-gen capabilities of Crytek's CRYENGINE.
Homefront: The Revolution - Trailer
Crytek have released a gorgeous in-game trailer for Homefront: The Revolution.
Ryse: Son of Rome - Launch Trailer
An abundance of next-gen graphics are on display in the launch trailer for Ryse: Son of Rome.
Crytek have announced the launch of a free CryENGINE SDK in August 2011. (Thanks for posting, Krallis)