I think we are into another grey area with all this. My original understanding was that the game engine was being reworked over the last year and tested in the various beta patches that have been released.
The final Steam version of this patch then (RC coming soon!?) would give us the new game engine for COD/BOM and so provide much improved performance. No further Battle of Britain specific content would then be developed for COD.
The developers would continue to develop features such as weather, AA, clouds, fix tree collision, etc that would be introduced in the sequel but would be backwards compatible with COD - so purchase of the sequel would then give us access to these features in our COD missions too.
I see a few problems with this reading though - their continued struggle to master the various issues in the last three beta patches and get a finalised Steam patch shows continuing underlying problems. I suspect that the upcoming Steam patch will NOT therefore represent the completion of the new engine, but that work will continue in the future.
The fact that AA will not be available in the next patch surely supports the conclusion that further work will be needed on the engine in future. Similarly for the tree collision and possibly dynamic weather?
In short it's messy.
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