Well, venomgfx said it would be done and so it was. Blenders' all-star coder Brecht has done it in record time! Blender now has real-time shadows in the editor and the Game Engine.
"...we *promise* real looking shadows for the next video..."
Promised and they delivered now a video is out showing off the new real-time shadows in the Blender Game Engine, and now, the video: