That it ships in a completed form at some point.
Which still doesn't tell us if the unreal3 demo was running on a ps3 or not.
let's be honest you will not be on time with this, better start working on some game ;)
No 3d engine I can use. Irrlict is nice and perfectly wrapped, but not as flexible/sensibly laid out as I'd need to spend six months using it for a game.