This is last year's trailer for Final Fantasy Versus XIII. The game looks incredible and I hate SE for not giving enough info about it. In my personal opinion, I think they'll soon rename the game like it happened with "Agito XIII" which ended up being "Type-0". If it were for me, I'd just go and call it Final Fantasy XV and release it in 2013 if it doesn't have any real connections to XIII and XIII-2.
Noctis looks pretty cool though his "tsundere" attitude is way too overused in the franchise. I mean, Cloud, Squall and Lightning were like him but then again, I prefer a tsundere guy than a total fag like Vann or Zidane.
The battle system looks awesome as well, a little big like Kingdom Hearts. I think that fits perfectly into the series and of course, DAMN those cinematics! Square-Enix knows how to make great cinematics for its games, I even think it's the best company out there when it comes to them.
Anyway, Nomura recently said that the next time we see this game, it's gonna be running on actual PS3 hardware. I can't wait for them to give a release date and finally be able to purchase it.