Come on now. Everyone bitches about big publishers like EA eating up all the small studios, well, here's a small studio. They probably have no publisher yet and pay for most of the development costs out of their pockets. If you think it's "vaporware" merely because they don't bombard you with pretty sceenshots all over the site... we had the Frag.Ops website up for 4 months before we even had our first screenshot. And let me tell you, it wasn't pretty. The reality engine is also new tech, still in beta phase, so don't expect too many of its licensees to show much until it leaves beta.
What these guys are doing is no different than a professional-quality mod for HL2/UT2004/D3/FC. The only thing they want to do when they finish is sell it. So do all of gaming a favor and help support studios like this -- unless of course you're one of those people who likes what EA is doing.
Pandora Studios programmerhttp://www.frag-ops.com