Another preview of BioShock straight from this year's GDC courtesy of ActionTrip

But first, a bit of info on the engine. While I was pretty certain that BioShock is running on the Unreal 3 Engine, it turns out that isn't exactly the case. The representative of Irrational Games Australia pointed out that they are using the Vengeance engine (I'm assuming this is a reference to Tribes: Vengeance) for their game, a piece of code Irrational has been working on for the past three years - a combination of Unreal 2 code and I guess Unreal 3 code as well. Bottom line is it looks like Irrational has spent quite a bit of time making the BioShock 3D code pretty much proprietary. This becomes more than evident when you see the water effects, which are essential for this game and its gameplay.