I've been working on a realistic and not so demanding psuedo shadows caster with some REALLY convincing results. It only supports one light (and that light currently follows the player), although it could be modified for more lights.
As well as this amazing light effect the game also features some state of the art bumpmapping and refraction.
The attached screenshot really doesn't do the game justice. Give it a try
Demo: h t t p s : / / dl.dropboxusercontent.com/u/133594057/shadecast.zip Might require a more than average computer though. Stable 60 fps on an i5 4690k and r9 290.
Btw, I've been a member here for years, but for som ereason my login doesn't work anymore. What the hell? Did the database fuck up? It didn't even recognize my email.