When Bioware licensed the engine they gutted it and used it for their own purpose. I am not even sure if they got any of the newer engine updates. The engine was and is the least of TORs problems and centers around the horrible design choices more than anything. We should wait on gameplay videos before anything.
You believe that story? A unfinished version of the hero engine used to create a unfinished product by unskilled programmers? To be exact... HUNDREDS of unskilled programmers?
The problem ist SW:ToR is not the only game created with the hero engine.
Look at brilliant examples like this:
http://www.heroengine.com/spotlights/faxion-online/
or this.
http://www.heroengine.com/spotlights/dominus/
The characters are looking in the exact same way very strange than sw:tor. The Interface is nearly the same too. A few other textures on the ui, but the handling looks and feels similar. The leveldesign (tube-levels) is also very similar. And the graphics are as bad as the one of sw:tor(even worse). So why... if its so easily possible... is there not a SINGLE example of a game with good graphics? Not even a vocking tech demo!
What other things do you need to stop believing marketing lies?