Here is a very simple view of a scene with static camera, but various time of day.
We still have some work ahead of us in day/night cycle simulation (as well as bad weather which we are not yet even ready to show - the new effects are not completed). We are now tweaking tone mapping parameters; our new HDR system has a lot more degrees of freedom for settings things up compared to our old engine, but it also means that we can spend a lot of time with the alchemy of finding the best approach.