Dean can say he gutted the engine as much as he wants, along with saying it's a new engine. But Dean Hall is not the epitome of truth and the fact remains that it is the same engine as Take On Helicopters, the third generation of Real Virtuality.
A new inventory system, damage system and a modified map does not make a new engine. Rehashing the packet-handling system does not make a new engine. They're modifying existing features.
I'm not surprised it has taken this long, because the codes used in RV3 are a pain in the arse and completely backwards compared to what you would expect nine times out of ten.
Don't get me wrong, I am looking forward to the game finally being released, but it's a long way off and a lot more work needs to be done before people get impressed. Riding off the hype and build-up won't last much longer.
I'm not too great at explaining things at times, but this guy has got it right:
http://www.reddit.com/r/dayz/comments/1g99dn/complainers_do_you_actually_know_what_a_game/
They have changed so much, and written some bits from scratch, that it certainly is very different from the other engines they are taking assets from. To say it hasn't changed much is a disservice to the dev team.
I'm not saying Dean is the one who knows it all either (as his attitude isn't that good at times), but he is the guy working on it and I do have faith that the changes they've made will be worth it. I'll take a basic, glitchy game (for now) with no hacking any day over the current one, despite how much I enjoy it.
Agree with you on the hype fully though, when it releases there is going to be an insane amount of complaints. It will be buggy, lack features (no vehicles, no tents etc) and need a TON of work still, but I'm looking forward to that. Because it will only get better from then. I'm impressed with what they've got already, and a mostly hack free DayZ will be awesome.