Slides from the Crytek presentation at CEDEC 2009 reveal that the SVO technology is going to be part of CryEngine3. The difference with id Software’s (Jon Olick) SVO tech seems to be that Crytek rasterizes the SVO, while id uses raycasting.
One thing that made me smile: "GPU rasterized version of SVOs & its realtime content creation only available in CryENGINE 3" is listed as a con. Nice joke Crytek!
Other slides list the pro’s and cons of point based rendering, raytracing and rasterization. http://www.4gamer.net/games/092/G009273/20090903001/
If Crytek continues innovating at this pace, there’s a good chance that CryEngine3 will become the Unreal Engine 3 of the next generation and will attract many licensees.