Ash
Not sure if it uses the cryengine or not? I think it could even be coincedental, since it runs WAY faster than Crysis, looks better, AND has PhysX support... there's no way this could be using that dodgy engine unless they rewrote it and fixed it properly.
hey did fix it, in Crysis Warhead.
Cryostasis uses an engine called AtmosFear, which is pretty damn nice.
I do admire the use of the water physics, but it just doesn't look real enough yet. Too blobby and thick looking, doesn't look good enough to take on the faked particle effects of games like Bioshock yet. However, I do think this is an early version of something that will be commonplace in the future, with physics loads being taken off the CPU and onto the powerful modern GPUs.