Tonight I downloaded the VXGI ue4 branch to test it out. A UE forum member, Galaxyman2015, merged UE4.7.3 with nvidia's gameworks VXGI (and some other of their plugins). Besides the shader compilation taking long (+-2 mins per shader, sigh) it's pretty cool. I'm doing tests but converting a scene is taking long because of the shader compilation. I've heard VXGI can do 2 bounces...or they're working on getting more than 1, not 100% sure. Anyway, it's cool to have everything dynamic, no lightmaps and no black faces because of the usual 0 bounce. I may try to make a project from scratch with it, we'll see.
Here's Galaxyman2015's ''merged'' branch
https://github.com/GalaxyMan2015/UnrealEngine/tree/Merged, here's the thread if you need help
https://forums.unrealengine.com/showthread.php?53735-NVIDIA-GameWorks-IntegrationMy super-duper test : both are fully dynamic, no baking, no lightmaps...
Only dynamic direct light + skylight (vxgi off)
dynamic direct light + skylight (vxgi on)