So what are the differences between Unreal Version 3 and 4?

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I've just downloaded the UE4 tech demo and there seems to be a heavy emphasis on scripting and matinee this time around. Also, it's open source as well.

My question is, what are the main differences between UE4 and UE3?
 
What I mean is, how do you think UE4 will result in better quality titles on the new platforms compared to the tried and tested UE3?
 
Unreal Engine 4 actually looks quite impressive, especially with those more detailed graphics and also some jaw-dropping visual effects here and there. Hopefully, more and more developers will make use of this engine in their games. So new they can just focus on making the best storyline and gameplay than thinking about creating all the graphics and visual effects from the scratch.
 
It's a deferred renderer with a new material model, and now has 'blueprints' instead of unreal script.

Basically.
 
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