Via Dezeen, a demo video by London-based visualization studio VRtisan  showing the potential of the architectural design process in VR.

My own group at Philips Lighting, our Luminous Patterns team, is experimenting with the Unreal Engine for live renderings of our embedded lighting concepts.  The potential across multiple media, beyond just VR, is indeed impressive.  Unreal Engine is going to have a profound impact on the architectural community in the near future.  A short teaser of our experiments: