http://www.wired.com/gamelife/2012/05/ff_unreal4/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+trblogposts+%28Hottest+blogosphere+items%29&pid=2552 [wired.com]





is this ‘Real time VFX-tool’ ?

Sure, as long as everything you need to do looks like Unreal 4 FX.

Viable for previs, I suppose, but you still have to create all those FX for the Unreal project asset library. I think the pain of realtime rendering would be offset by the lack of flexibility/controllability and the experience of using the Unreal editor.