if this new engine makes it easier for them to create assets and spend more time on building better stories and gameplay mechanics then I'm all for it.
this post right here is the key.
They spent so much time at the beginning of this gen dicking around with 'The White Engine' and assuming they only had to cater it towards PS3 development that they ended up really stunting/delaying their whole operation once MS took over and the PS3's price turned the tide of the so-called 'console war'.
It just mucked everything up and, to my knowledge, they ended up with the 'Crystal Tools', a gutted shadow of The White Engine, that was supposed to somehow accommodate the PS3, 360, and the Wii. Just very disorganized and they seemed like they've been scambling all generation with their high budget developments.
If they can go into 'next' gen with an engine (Luminous) that has been designed ground up to be more flexible and have a high ceiling for whatever level of tech MS/Sony are going to throw out there, as well as a floor that can still make it functional with whatever WiiU can produce, I think they'll be in much better shape from Day 1.
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*I don't know shit about how these engines are actually designed.