Directional light shafts, color grading and cascaded shadow maps may seem like gobbledygook to most of us, but to developers, they're important. At least Epic thinks these terms for
Unreal Engine 3 features are important enough to use as selling points. Just past the break, you can check out a new video demonstration of the tech.
Additionally, Epic has released a new beta version of its free Unreal Engine 3 UDK today, now featuring an additional map and "many improvements to the Unreal Editor." If you'd like to grab it, head on over to the official site.