I've been saying all along that Tegra 2 coupled with the Unreal 3 engine will finally bring some great games to the Android platform. Tegra 2 is definitely going to be an extremely popular chip in phones and tablets because of its dual core Cortex A9 CPU and console level graphics, but the most important part was always the Unreal 3 engine which can make it a lot more easier for game developers to make amazing cross-platform 3D games for iOS and Android.
So, great news! Unreal 3 will also come to single core phones that support OpenGL ES 2.0, which includes all the latest phones with the PowerVR SGX (Galaxy S, Droid X, Droid 2) and also the phones with the 2nd generation Snapdragon (Desire HD, Desire Z, G2, myTouch 4G).
Here's what the guys who made Dungeon Defenders, an Unreal 3 engine based game, are saying:
It's coming to all iOS devices 3GS & up, and most OpenGL ES2.0 capable Android devices, and with cross-compatible characters has essentially all the same features as the console version (though, at $2.99, less content).
And here's a video demo of this game: