Cry 2 Engine, Crysis Engine 2, Cry Engine 2, there seem to be a few names kicking around for Infinity Labs' new engine. This is the CryENGINE2 from CryTek (thanks Mocib!). Check this out for a nifty bit of rendering:
Not a photo!
CoMagz has a little compare-and-contrast set up. Lovely looking stuff!
UPDATE: Here's a vid. Rrrr.