Cryengine3 is kind of the latest game engine to come out with a free business model and looks pretty good. If you absolutely feel the need to be using the latest and greatest, that would be it. There are more license restrictions if you go commercial. As an indy developer, I think maybe Unity would be a better choice because it exports to more platforms and doesn't need the processor power. It's incomplete in that it doesn't have shadows and a few niceties in the free version, but you can write a good indy game with it for the web, iphone, etc. It will cost 400 dollars to export to the iphone, though. You'll find your restrictions are mostly being one individual or a small team, so you will need to limit resources. The Cryengine won't look so devastating with some free models or models built in your spare time, etc, in it. Another problem you may find is that you are jumping from engine to engine and not getting any work out as the latest one comes out. It takes a good deal of time to learn all the ins and outs of an engine. They have similar functions, but always different enough to throw you off.