It was September of last year when Cevat Yerli, Crytek CEO, announced that they were in fact already preparing for the next cycle of consoles. This announcement was coupled with his prediction that the next consoles race will by on by 2011 or 2012. What was interesting at that time was that he said that they are gearing up for the PS4 with their CryEngine 3.
At the GDC 09 today, jaws dropped as Crytek presented the demo for CryEngine 3. Watch the vid below to see what the fuss is all about: