The Unreal Engine 3 has certainly made the rounds this generation, and designer Epic Games isn't afraid to let everyone know it.
During a demonstration at GDC 2012, Epic vice-president Mark Rein showed off a bunch of titles that have successfully used the UE3 engine thus far (catch the full list of current and upcoming games at RipTen ). He also made the following statement:
"Unreal is the engine of success… people who choose to use other technology for the price don’t know what they’re doing."
He may not be far off base. Some of the most critically acclaimed titles of the generation have used UE3, including all the Gears of War and Mass Effect installments, both Batman games by Rocksteady, Borderlands , the Mortal Kombat and Medal of Honor reboots, Mirror's Edge , Shadows of the Damned , Lost Odyssey , Singularity , and Enslaved: Odyssey to the West . Future UE3-powered titles include Bioshock Infinite , Borderlands 2 , DMC , DUST 514 , and even Mortal Kombat for the PlayStation Vita.
Yeah, developers have used this engine with great success. Remember, the team using an engine has a lot to do with how it will perform in the long run.