Okay, so I got my first look at the standalone today. It was over a Teamviewer session with the game running windowed, but it does indeed look good. As some of you may know, a closed beta (a beta of an alpha? so confusing) is starting just now. There's no real way for anyone to get themselves involved with that - I'm slightly miffed that I haven't been invited; ha ha. But we should be getting more of a look at the standalone in short order.
I see Rocket has posted to Tumblr showing a bit of detail and there's even a comparison shot (just the one though) to show off the new lighting model.