Today i saw a very nice news entry on google reader!
The Unreal Engine is now free for non-commercial use, with no restrictions. Everything is included in the so called UDK or Unreal Development Kit, especially all the tools to easily create your game.
The UDK provides many cool stuff and here you can find a long list of features: http://udk.com/features.html
This new step of Epic is a very big present for the community and especially small hobby development teams which now can use these powerful tools like the real big developers.
I'll give it a longer try at the weekend but what i've seen this evening was amazing.
More information and the download can be found here: http://udk.com/index.html