Wow, that looks... really hot, actually. I'm interested. (Also: insert mandatory "thanks for finally making some new IP Square-Enix hur hur" here)
FFXII Revenant Wings will, of course, be all mine. I do think it's weird we're not seeing a XII-2 for PS2 (though, y'know, maybe further down the line) given that the engine is basically free to reuse and X-2 established that it's very profitable to do so.
I wonder where this leaves both the rumored XIII for DS and the rumored Tactics DS. Maybe there are YET MORE DS ANNOUNCEMENTS coming despite the fact that Square seems to have ten million DS games in the works.
No clue what's going on, but I love it anyway. Ouendan meets action RPG?
Edit: Love the modern setting, too. For whatever reason, that's the most neglected time period in games--usually it's futuristic, or medieval, or set in historical war periods (WWII, etc.), so I appreciate change when it happens. Needs more than one female character, though.
Awesome news, and it seems to be set in Tokyo (that image on the far left resembles Shibuya a lot)... More SE love for the DS, which is always a good thing. And I like the sound of it too, not to mention the look.