MyCrysis has the announcement of CryENGINE 3, saying this new "all-in-one game development solution for Xbox 360, PlayStation 3, MMO, DX9/ DX10 and Next-Gen" will make its public debut at GDC 2009:

CryENGINE 3 is the first development platform for Xbox 360, PlayStation 3, MMO, DX9/DX10 that also is truly Next-Gen-Ready - with scalable computation and graphics for all major upcoming platforms. It provides the complete game engine to create AAA quality next generation games, and includes the CryENGINE® 3 Sandbox™ level editor, a production-proven, 3rd generation “What you see is what you play” (WYSIWYP) - tool designed by and for professional developers. CryENGINE 3 comes with significant new features specifically designed for console, online, MMO and Next-Gen game development.