The Quantum3 is a gameplay engine for the Wii, being designed by High Voltage Software which is going to take advantage of numerous features that are currently not being used by any developers on the console. They have created this engine from the ground up and hope to create games from it that rival the looks of Xbox 360 games.
The developer says that thus far, other developers have been lazy with Wii development, and haven't invested time or money to create anything to what the Wii is capable of, comparing their games to PS2 games, which I couldn't agree with more.
Currently, High Voltage is using their new engine in an upcoming game, The Conduit, which is a FPS about aliens attacking Washington D.C., and is being made specifically for the Wii and will take advantage of all the Wii has to offer, including controls.
So, the game is shaping up, and currently there are a few screens on IGN, along with a video of the Quantum3 engine. I'm going to be following this game, as it could turn out to be very interesting, or at least allow other developers to sample the tech to make better games in the future.