This engine is supposed to be, above all, flexible. Let's see what the marketing people have to say! '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.' This engine will be shown off at GDC in the coming weeks, and I'm guessing a few tech demos will start hitting the Internet sooner rather than later.
Crytek knows which side of the bread their butter is on, however, and it has just announced it's latest engine: for the PC and consoles. Crytek used to look like the last great hope for hardcore PC gamers a company that is dedicated to showing off what the latest and greatest PC hardware can do.