It feels like this game hasn't been brought up in quite some time. Epic seems to be making major changes. Has this been pushed to next gen or potentially canceled?

It hasn't been that long since it's been brought up. Also, I'm assuming they always intended to put this on PS4/Durango, but those consoles didn't officially exist when they announced the game.

@barrock: It better still exist because it sounded pretty interesting to me, like something that might actually be a breath of fresh air rather than another FPS. What changes are happening other than Cliff leaving? And I don't think you should count the game out unless it is a no show at E3.

People have been speculating that they are going to stop making games and just license out their engine.

A Chinese company bought a 30% share of the company last year. Since then Cliff and Mike Caps left and Imposible Studios closed just nine months after opening. They also closed Titan Studios in 2011.

I'd definitely want to try it out, but wouldn't be surprised if Epic dropped all its games to exclusively license their engine out to other companies.