I saw the demo at Siggraph… Im a MAYA VRAY guy, and Unreal guy. At the moment my pipeline is build and stage everything in Maya, including textures, Vray materials and lights - Render scene until it looks perfect… BAKE all materials based on those lights and materials inside of Maya Vray - bring all that stuff into UNREAL - dont use any lights at all (because they are all prebaked, including shadows and prestine V-Ray Ray Traced GI, bounced lighting and Ambient occlusion. The models look identical inside of UNREAL, BUTthey are now REAL TIME so I can walk around a room or use VR to look around. - so this will cut a hefty portion out of the time it takes to do what I just described because im in a single software for lighting and texture baking (not lightmap) Texture baking (baking GI, and bounce lighting into the texture, including lighting. Reflections are separate and are realtime.
I have doing all of my rendering inside of Unreal - I can now match Vray Maya renders and have a heck of a lot more control in real time, rather than waiting 5-20 minutes for a single frame to finish to look at. I can out put 360 movies in minutes instead of days. Super boost for productivity! Cant wait! Is there a Beta program did I see?