Crytek has released two GDC 2014 trailers for its proprietary game engine, the CRYENGINE.

"It is gonna be a long technical road" to update Hunt's version of CryEngine.
If anyone can upgrade the engine then Crytek can. Good news anyway. Hunt looks pretty awesome anyway, but with UE5 a thing now Cryengine beginning to look dated perhaps?

LifelessTapir has released a free game in which he basically recreated the entire Isla Nublar island from Jurassic Park in CRYENGINE.
It's Cryengine free you say? Great news, sick of all that cryengine in my dinosaur games.

Crytek has announced that CRYENGINE 5.6 is available now for all game developers. According to the team, this major new release includes over 1,000 changes to the engine.
Considering what was achieved on such limited hardware, I don't think there's a greater showcase for CE3 than RYSE. It's amazing to play that game, knowing that it's only 900p/30fps...and it's still the most impressive game, visually, this gen. If someone puts that kind of effort into a PC-only game, the sky's the limit.
Graphics cards have only recently been capable of running CryEngine 3 at good speeds (60fps+) so i don't think they should increase visuals now.. really no need to for a while, UE4 is looking great too.
Hopefully these devs have learned we want speed as well as good graphics.
Still nothing beats Beyond: Two Souls
I thought the gamenames and studios were just made up to showcase the new engine. Now I read these are actual games. I lolled at 'Warface' though.
Any game can be made on most systems.
Obviously you would have to drop rez, certain assets. Textures etc.
Some PS3 games still look excellent for the age of the system, while some newer games should look better.
As for cryengine, it's an excellent piece of software, as are alot of engines these days.