I have posted a link to the whole article , but in a nutshell they have made a way so all Devolopers can easliy make game's with faster devolopment and the ability to utilize a platforms (console) strengths without looking like a port, for example GTA 4 with splintercell Graphics (okay it's a bit of a dream but it's now possible)
Heres a snip from the article ,
What does this mean for gamers? A whole lot. Imagine the RenderWare powered GTA with better physics. And, now that RenderWare is even more robust than before and likely to be used by even more studios, imagine shorter development cycles thanks to the modular nature of the platform. Imagine cross-platform games that can take advantage of the strengths of each specific platform without all versions looking just like the PS2 one. Will it actually happen? Criterion sure thinks so. We suppose 30% of games in development can't be wrong.
heres the whole article to make more sense