Exactly. A lot of what they describe in the new engine features is doing exactly what the ENBs did before. So now all of that is native to the game.
This is what really stuck out to me as cool. "Dynamic Dismemberment using tessellation. That last part is important. Basically, what they are saying is that when you blow or cut off limbs, unlike in Fallout 3 and Skyrim where they came apart at specific joints, now, the limbs will be hacked or blown off where you hit the enemy. Like in Dead Space. Tessellation let's them deform the geometry to make it look good using textures where-ever you sliced off a limb.