Even though I think SE (and everyone else, really) should focus on making new things, not waste talent and money on rehashing old things (and I say that despite being a huge VII fan), I have to say this was probably the most excruciating live game announcement I have seen in my entire life.
Not only was the setup followed by the actual announcement utterly painful due to the simple fact of what was being announced vs. the setup; but they guy's demeanor and delivery were as if he was parodying himself. I mean he was actually acting as if people were supposed to be excited about this... and he was doing this for several excruciating minutes (or at least it seemed like it) AFTER delivering the actual killing blow of information.
It was completely fucking insane. I don't understand what kind of an alternate reality these SE guys must have constructed for themselves, if they think this was going to go over well. Seriously. What the hell?
I've actually noticed this about a handful of Japanese game developer public faces. I also get this inexplicable "what reality is this guy actually in?" vibe from the Polyphony Digital head, Kaz Yamauchi , for example. I'll read some interview and actually wonder -- how sheltered is his professional life?