The last we heard of Epic's next-gen engine, Unreal Engine 4, was late last year, when an interview with Kotaku revealed that the developer had at least 40 people working on it. So it should come as no surprise that they're getting ready to start showing it off at GDC next month.
Unfortunately for the majority of people, the presentation will be behind closed doors—only "select licensees, partners and prospective customers" will be given appointments, and they'll of course have to sign non-disclosure agreements before getting a peek.
Hopefully this means the public (and press!) will get a chance to see it soon as well. If Unreal Engine 3's success is anything to go by—it's easily the most popular engine of this generation—Unreal 4 will have a huge impact on the next round of consoles and PC games. Let us know what you're expecting from it in the comments or on Twitter.