From what I understand, E3 is a perfect place for any developers to show off what projects various developers are in the middle of in order to raise hype and funding, as well as an opportunity for various gamers to play some demos and **** .

Never been at E3, never bothered looking it up, and frankly I'm kind of disappointed in the current state of the game industry. Good games are rare gems since the competition lies not in how good a game is, but how good you can make people assume it is before they actually buy it (read "hype").