FPSC doesn't really have "soft" shadows as such. Lee did some tests where he managed to produce this effect, but it is quite expensive to do, so it may or may not happen. Seeing as neither Doom 3 nor HL2 have proper soft shadows I think it would be a bit much to expect FPSC to have them.
FPSC supports FX shaders just like DBPro, so normal mapping & shaders are supported. For simplicity Lee / Mike will probably build shaders into the segments so that you just plonk down a wall and it automatically uses bump mapping. I believe the shaders are user-configurable though.
So yes, it does have DX9 features, but it is never going to look as good as big commercial projects which have had teams of 20+ developers working on them continuously for 2+ years.
BlueGUI:Windows UI Plugin - All the power of the windows interface in your DBPro games.