All in all, UE may have more stock components, but that does not make Gamebryo any less of a game engine simply because it doesn't have all the bells and whistles that UE has.
Earlier posts comparing the two engines seem to be missing the main difference. NetImmerse/Gamebryo is really more of a scenegraph + renderer than a complete game engine. With NI, you write all of your own code for handling how objects behave in the world, you need to figure out how all of them fit together and how they connect back with their scenegraph-side representations, you figure out how objects talk to each other, etc. UE provides an implementation for all of this, as well as an *extremely* powerful programming language for implementing new Actor types/modifying existing behavior/etc. I wouldn't be surprised if you could write an entire title in UE3 without ever touching the C/C++ side of the engine. However, big-world games have different requirements than a normal FPS level-based game. More work needs to be done if you're trying to implement a large streaming world with thousands of characters with active AI in UE than if you were just banging out
The rendering capabilities of UE vs. NI aren't even comparable, so I won't go down that path other than saying that UE is orders of magnitude ahead even without bringing third-party packages in to the mix. They aren't even in the same category.
note: I believe that NI has released a separate package implementing some of the gameplay-side features, but I don't think anything has shipped using it.