The good news? Epic Games is planning to give some folks a chance to see a demo of Unreal Engine 4 in action at San Francisco's Game Developers Conference in early March. The bad news? It's likely we won't be hearing much about that demo for some time.
Epic's GDC 2012 press release confirms that it will be showing Unreal Engine 4 to "select licensees, partners and prospective customers." However, the company added that "appointments and non-disclosure agreements are required to see the Unreal Engine 4 presentation." That means those that will get to see it won't be able to talk or write about what they have seen for a while, at least not without breaking their NDA.
Media outlets will also be able to check out an Unreal Engine presentation at GDC with two media meetings scheduled at Epic's booth. Since the Unreal Engine 4 presentation is being shown under NDA, it's not likely that the media will get to glimpse what some game developers will be seeing.
Last year at GDC, Epic showed the media what they called the Samaritan demo, which showcased a number of new Unreal Engine 3 features running on DirectX 11, including enhanced lighting effects, better cloth physics and improved foliage.