The South African-based game developer Runestorm has today formally announced the team’s first full-featured game in the form of “Rook’s Keep,” a title using the power of Unreal Engine 3 and built using the Unreal Development Kit (UDK).

Rook’s Keep is based on the strategic game of chess (you know, with the chequered board), but this time the pieces come to life in a “gothic, fantasy themed setting,” battling each other for glory in bursts of blood while using brutal weapons to fight their way up the board!

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We’ve all seen the previously released, jaw-dropping Unreal Engine 3 tech demo from Epic and the developer’s cutting-edge technology team, right? It’s called Samaritan, and you can watch it over here (highly recommended!).

If you want to see the future of Unreal Engine 3 (and the world of videogame graphics in general), the features that this year’s iteration of the engine will bring to upcoming games using the tech (including Gears of War 3), as well as a showcase of the engine on mobile platforms (like iOS and Android, as well as NGP) then all you need to do is watch this latest demonstration video to see even more astounding sights and mind-bending rendering capabilities:

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Over the course of the Game Developers Conference last week, a significant amount of buzz was swirling around a demonstration for Epic Games’ Unreal Engine, with a video available at the event showcasing some of the new features and improvements the engine team (i.e. Tim Sweeney… and others) at Epic had added to the extremely popular technology.

Now, that video has made its way onto Mother Internet.

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The demo for an incredible-looking South African-created game by the name of Bounty Arms (running on Unreal Engine 3) is now available for PC gamers to download and enjoy, while a batch of incredible screenshots and a teaser trailer for the game have also surfaced for you to peruse.

Bounty Arms is currently in development at the small indie developer, Open-Reset, who describes the title as “an old-school 3d side-scrolling action game.”

“Over the course of the final game,” says Open-Reset, “you gather power-ups that hugely alter your character and weapon arsenal, travel across the galaxy to many different worlds, unlock hidden doors to secrets, join with new comrades, fight the multitude of varying enemies that each world will bring, and defeat the bosses that rule them.”

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Over the course of the Game Developers Conference last week, Epic were showcasing the additions and improvements they’ve been working on for the latest iteration of their Unreal Engine 3 technology.

The new features of the technology (which has powered heavy hitters such as Gears of War 1 and 2, Bioshock, 50 Cent: Blood on the Sand and many, many others) can now be seen in the video below, unveiling version 3 of Unreal Engine 3:

Ignition Entertainment has licensed Epic Games’ Unreal Engine 3 for a new FPS that is currently in development at its Florida studio.

Ignition Florida is developing an original IP that is scheuled to be released in late 2009. It is confident that it will bring “something fresh and exciting to one of the industry’s core genres.” While details are still scant, a job posting on the studio’s website suggests that it is in development for the Xbox 360, PS3 and PC.

“Epic’s Unreal Engine 3 is an extremely versatile engine,” said Jeremy Stieglitz, Game Director and Lead Designer, Ignition Florida. “So when deciding on technology for Ignition Florida’s first next-generation video game, there was no questioning that Unreal Engine 3 is the way to go.”

“Ignition Florida is pushing Unreal Engine 3 in a very exciting direction, especially in terms of environmental capabilities,” said Mark Rein, Vice President, Epic Games. “These guys have the chops to create some remarkable games, and we have complete faith in their technical and creative abilities.”