Hi! Me and some friends are about to start up a studio, and are looking for opensource engines to use until we have a proof of concept demo to show investors. (It would take some smooth talking to get someone to pay for a LithTech engine for us before that.) So far I have found SciTech MGL 4.05, which looks ok, but I would like some more options. It doesn''t have to have all the tech that is included in the latest LithTech or NetImmerse engines, but it would be good if it could do most things. We are most likely going to migrate to a commercial engine if we get a real investor after a few months. (Ie after we can show a proof of concept demo.)

http://www.garagegames.com/index.php?sec=mg&mod=home&page=news

you can find some links at this page:
http://www.flipcode.com/cgi-bin/links.cgi?operation=Search&category=engines

I think Genesis3D is a good choice