Unreal still requires 5% royalties on gross sales, but the price per seat for developers (considering the feature set) is bound to attract some attention from the indie scene.
Just to clear up A Thing.
The royalties are on a per-quarter amount and you only pay after the first $3,000 (gross) made in that quarter.
In theory this means that you could make $2,999/quarter and not have to pay Epic a dime. If you factor in the 30% cut many places take then you can make $2099.30/quarter before the 5% kicks in and then it is only 5% over the $3,000.
Reading the FAQ it seems to imply that it is per-product, so in theory you could have 4 games out, all pulling in less than $3,000/quarter each so you end up with just over $10K/quarter net income and don't have to pay Epic a dime.
(I'd double check that of course but that's what I read when it says 'per product')
(Although personally I'd say if you can afford to keep the subscription do so; we push out updates pretty quickly with release 4.6 due soon and release 4.7 work well under way and there are hot fixes which go out too - plus who doesn't want to follow master and see every live commit? ;))