Personaly i am waiting for hellgate. It fits into my gameplay sheme very well, and if they dont make big mistakes i might spend a few hours killing this and that.
the egnine is quite bad, the art isnt that great either. but its still good enough and that enough for me.
i dont agree about how you rate engines. nor is this a real rating or judging if you ask me.
the fact that engines have some sort of shaders isnt the definition of a good or bad engine.
the main question would be: how well can a game like hellgate be made with the given engine and how easy does it make the final output.
since neither of us is part of the development team, i am afraid we will never know this.
if you want to compare with gs then the question also would be: how well could the exact same gample be made with the a engine?
you would have to rip it appart in basic tasks (art, level, code, ai...) and define the results.
cheers