http://www.gamasutra.com/php-bin/news_index.php?story=25955
I expect three two to happen: UE3 will become more virally popular then UE2 and Epic will rake in a freaking fortune. The former, because of the popularity of Unreal Engine and the modding indrustry, now can do more for free and have appetising options for startups; and the latter because UE3 has been taking commercial market share with new projects for a very long time.
All I can say, is if Unreal Engine 3 development is anything like the Unreal Engine 2 based games I've seen, I'm not using it without a pay cheque!