Was watching this a while ago before coming here too.
A shame people's eyes don't seem to be that good, considering it's clear that the visuals are far from finished in that video - the biggest sign being no shadows whatsoever. There's missing effects as well too, extremely obvious to me at least.
Regardless, the biggest thing I wanted for Gears 4 was for it to play like Gears 3 and improve from there, because I felt that Gears 3 was the perfect balance for gameplay in MP for the series. Not counting the Retro of course. Been asking for this for as long as I could remember. And they did it by looking at this video. The movement, the gameplay, the shooting - even the Lancer & Gnasher sounds are all back to Gears 3-style and I couldn't be happier, huge smile on my face right now. The way Gears UE was designed and looked/played/sounded had me worried a bit. Those worries are gone now.
Loving all of the little eSports-esqe additions that help out like the round counts between rounds, score at the top of the screen etc. (although I was a fan of how Gears kept the in-game UI empty until you shot, but I can let it slide).
So happy with this, the gameplay is exactly how I wished for it to be, it's at 60fps on top of that, and the graphics will obviously improve considering that this is a true beta and not a demo.
Good stuff to The Coalition, I'm already sold and waiting to see if/what the console bundle will look like, hopefully an Elite bundle is in the works.
EDIT: Nice, they even have Lancers WITHOUT the wooden stock at the end, which I also didn't like, let me keep my classic looking Lancer, or at least between the new and old one. Good stuff. The killfeed shows the Lancer icon with that stock though, I hope it's a choice to keep the classic one.
Another interesting thing I saw was that even with a full 5v5, you can have at least one spectator, looks like space for 4, very nice addition as well.