Every interview blurb I've read has mentioned Vandal Hearts II in a positive light, that doesn't exactly instill much confidence.
It's not like Vandal Hearts was some magical formula, it was just a simple FE/SF-like with 3D maps, great art, great characters, a cool story, BLOOD GEYSERS and an overall very solid "feel" to it.
Vandal Hearts II was a travesty though, much like Alundra II and what the fuck ever tipped them off that anyone EVER carried a torch for that piece of shit is beyond me.
I'll say one thing though, at least (in memory at least) VH2 had solid art direction and style. This game is just freaking hideous.
If you can't do it right, just keep it dead.