In case you haven't heard of Epic, it's the company that developed the likes of Gears of War and Unreal Tournament 3 for the big consoles.
More pertinently, though, it also created Unreal Engine 3, which is behind many of the other major console action games of recent times (BioShock, Batman: Arkham Asylum, Borderlands).
Why is that of any interest to you, dear pocket gamer? Well, it's recently been showing off a version of Unreal Engine 3 that runs on the iPhone 3GS - and it plan to license the technology out in the near future.
If you've played any of the truly woeful attempts at the first-person shooter genre on iPhone (although there are notable exceptions) you'll know that this is just what the doctor ordered.
A solid, good looking engine will allow licensees to get on with the task of making new and interesting games rather than getting bogged down with the technology side.
And UE3 does indeed look both solid and good looking, as the video below shows. As mentioned, it'll only run on iPhone 3GS/third gen iPod touch hardware right now, but of course that will become more prevalent with future iPhone iterations.
Interestingly, Epic also revealed that it had its engine up and running on another mobile platform. What could it possibly mean?