Haven't heard a peep about this game since April or so, but it looks to be aiming at a late 2008 release. Development must have ramped up because recent screens and movies are surprisingly badass.

The game is 3rd person action (swords/knives), FPS long-range (crossbow, magic), with 5 classes to pick from, mounted combat, single-player story with a multi-player function involving squad based combat (wizard, warrior, engineer, assassin, paladin). 

New (to me?) screens:

Looks badass...but the game basically reminds me of Dark Messiah of Might and Magic...which was disappointing.

Did you find these at the website? I didn't know they had new images.

I posted a small update the other day: http://vgchartz.com/forum/thread.php?id=8369

Some are from the trailer, some are from the website. They updated a couple days ago.

Sorry for duplicating a thread on the game! Didn't see yours...