Pyro is using Criterion's RenderWare engine,
also featured in Rockstar's GTA franchise and the latest racer smash hit, Burnout 3.
Don't know what the specs/abilities of the engine are, but looks like Pyro is remaining it's amount of detail as in their previous titles. Frankly it's good that there are already screens out, because if I would have read that they would be using the same engine as GTA without showing how it would look I'd expect blocky hand etc.