Being a new game engine is possible Zeus. It's simply a compatible one. All and all, a diferent engine does not mean necessarly a diferent coding.
From what i understand, CryEngine 1 is being used now and we will use CryEngine 2. It is a new engine, but it does not force to rewrite everything.
Being a new engine also means that the code can be the same, but the engine will process it with more effects (colors and light effects) imediatly by itself. That and if ncsoft places higher resolution texture files that the engine can deal with, you will already feel quite the diference.
Comparison example: When developing flash content, most of the code will work on the newer versions of flash, only in some cases does the code need to be readjusted. However when developing new content (maps and new mechanics), will allow for new things (codes/functions) not possible before (example: new water effects, floods and more).
That, and also (rumours?) we will have 2 clients. 1 for high graphics and 1 for standard. A bit like happened with EVE Online.
And there will also be a 64-bit version option instead of just the 32-bit version we have now. Such 64-bit will allow the game to use much more computer memory to process the game and it's graphics.
The word "gimp" again...
People are very negative and make drama before actually trying. I remember all the blabla about sin going to be gimped with the shock removal skill and ppl quitting the game before they even experimented and waited to see the impact of it.