Interesting newcomer on the engine market. Developed by a few guys from the UK using the Ogre Engine as basis featuring modern WYSIWYG editors, LUA scripting (plus C++ SDK) and lots of other features via middleware (they e.g. want to use Umbra). The pricing probably still isn't final but the the first releases might be priced at 50£ for a non-commercial version and 250£ for a commercial version (those prices probably will rise with later versions though)...
I guess the shadows depend on the technique and build used. When you e.g. look at the 2nd image HERE the shadows are just fine and have smooth edges. I guess the more rough technique is meant for the mobile devices or for use on distant objects...
Are the graphic quality and the game engines related items ? I mean, all game engines simply wrap direct x / opengl Assuming that the engines use the same API version and of course the same artworks then the graphic quality should be the same, I suppose