Hammer 2012 / Source 2
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Icon (note the different color scheme and anti-aliased edges not found in current hammer icons)

The first of several icons labelled "terrain tool," which seems to be a better version of displacements. This one depicts a smoother.

Another terrain tool icon. Something for extruding a face, doesn't correspond to any current hammer function I can think of.

Control cages are only used for subdivided meshes. New hammer has better interactive subdivision?

Finally, some kind of indicator for what mode the clipping tool is in.
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File name says "paint tool", that doesn't sound like textures nor decals to me, but rather something new.
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File name says "scale tool,"...scaling is a pretty basic operation with the selection tool in hammer as it is, does this mean they've reworked some of the most basic parts?
I found all of these in game\platform\tools\images\hammer\
Hopefully we will hear word on this soon! 
p0rtalplayer wrote:
File name says "scale tool,"...scaling is a pretty basic operation with the selection tool in hammer as it is, does this mean they've reworked some of the most basic parts?I found all of these in game\platform\tools\images\hammer\
Maybe its to scale ordinary meshes, which has been missing almost entirely from Source but has been around a long time and is easy to use for other editors like UDK editor.
vanSulli wrote:
p0rtalplayer wrote:
File name says "scale tool,"...scaling is a pretty basic operation with the selection tool in hammer as it is, does this mean they've reworked some of the most basic parts?I found all of these in game\platform\tools\images\hammer>
Maybe its to scale ordinary meshes, which has been missing almost entirely from Source but has been around a long time and is easy to use for other editors like UDK editor.
UDK and the Starcraft II Editor and probably others support static mesh scaling. I hope that this gets released soon, I'm tired of Source SDK being behind in functionality.
Also, the paint tool seems like it could be like the "Paint Alpha" function for displacements, but for painting any texture on any brush. It's my best guess.
Coppermantis wrote:
I hope that this gets released soon
anyway, this is amazing news! but how come you wrote 2012 p0p? are you hoping or did you find any indications?
Keklolzor wrote:
Coppermantis wrote:
I hope that this gets released soon>
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anyway, this is amazing news! but how come you wrote 2012 p0p? are you hoping or did you find any indications?
Just cause I found it in 2012, that's all. I mean, this is probably some view tiny preview of the current state, as of 2012.
Also, someone on facepunch found a reference in the stylesheet files to "Source 2" (I verified this). It's possible that we won't get to see these until the next iteration of source
but then again, that could be an indicator that news is coming soon.
p0rtalplayer wrote:
Keklolzor wrote:
Coppermantis wrote:
I hope that this gets released soon>>
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anyway, this is amazing news! but how come you wrote 2012 p0p? are you hoping or did you find any indications?>
Just cause I found it in 2012, that's all. I mean, this is probably some view tiny preview of the current state, as of 2012.
Also, someone on facepunch found a reference in the stylesheet files to "Source 2" (I verified this). It's possible that we won't get to see these until the next iteration of source
but then again, that could be an indicator that news is coming soon.
So an engine that's been updated countless times since it's leak in 2003 is supposed to have a "sequel"?
How the hell does that work?
Sven wrote:
So an engine that's been updated countless times since it's leak in 2003 is supposed to have a "sequel"?
How the hell does that work?
Could be an internal nickname.
p0rtalplayer wrote:
Also, someone on facepunch found a reference in the stylesheet files to "Source 2" (I verified this). It's possible that we won't get to see these until the next iteration of sourcebut then again, that could be an indicator that news is coming soon.
Now I forgive Valve about ep3. I hope "Source 2" does not use the vphysics simulations from the 90's that Source still uses today! We are sure to see this in action once the ep3 videos come in.
Sven wrote:
So an engine that's been updated countless times since it's leak in 2003 is supposed to have a "sequel"?How the hell does that work?
Well this is why the tools don't work like they did. Source is an engine with just years of patches and fixes. This resulted in a clunky engine with worse tools.
Also, something just came to me. I hope Valve makes the engine read .tga files for textures. I think Portal 2 already allows this since I saw some instances of this in some vmts. T3x and I were talking about this before, vtfs need to go, there is no need to compress a file again after its been a .tga (Although 3rd party tools allow you to skip the tga part.)
Nonetheless I look forward to these new tools. Source Filmmaker and a new version of Hammer! 
Kizzycocoa wrote:
I hope they've finally fixed circles.
I hope they finally fixed it always crashing.
But then they couldn't call it 'Hammer World Editor' anymore, since that's built into it's very fibre.
At about 1:20, Gabe confirms that 1) "ricochet 2" (Half life 3 codename) is indeed in development, and 2) Source 2 is in development, but not only that it is an ENTIRELY NEW ENGINE (not just a modification of source)
EDIT: Also, apparently in the original video they took the footage from, they talk about the Space Game - it's a cancelled idea that was called Stars of Blood, it was a space pirate game.
(Sorry, late, I know.)