MobiusArcher: From what I read, Epic gets 25% of your profits beyond 5,000 dollars if you go the free route. So its really only free if your not going to sell what you make.
Ubivis: 25% share is fair in my opinion. Epic put a lot of work into the engine and it is a really good one. If you don't want to pay a share to them, you can also licence the engine which is only a one time fee :)
Torque is only $179 - $199 for independent developers (less than $250,000 yearly income) and something like $500 if your company makes more than that, I can't find the exact listing atm but I know I found it the other day.
now that is per person you will have working with it (so if you have 5 people working on a game you will need 5 licenses, but you don't need to buy a 6th license for your girlfriend/secretary), but after that it's all yours with no royalties.
with the UDK you can use it for free while developing your game, but before you launch you have to pay the $99 (single fee no matter how many developers you have on staff) to essentially buy a publishing license. after that you get a royalty free limit of $50,000, but after that you are required to pay 25% off of any and all money you make from the product: so if you make $250,000 from your game, you will have to cough up $50,000 to Epic (($250,000 - $50,000)/4 = $50,000).
no clue what the cryENGINE costs, since they make you fill out a NDA first, but you can download and develop for free.
Unity is a bit more simple in that they charge a flat $30,000 per project.
I kinda think Torque and Unity are the least shady in that they don't try to rope you in with "free" development kits who's purpose is less about being accessible and more about getting you in too deep with your project to switch to something cheaper when the reality of paying up kicks in.