Its gorgeous! - http://vgchartz.com/forum/post.php?id=1160827
Its got a fantastic art style that would be as fitting to your favourite JRPG as it is to a WRPG.
Peter the lead designer proved the concepts in Fable 2 in previews so what he said is actually there.
Read this for 10 things about Fable 2:
http://au.xbox360.ign.com/articles/901/901967p1.html
And my take, this doesn't look like a cold "heartless" WRPG like Oblivion its far softer and its much more endearing IMO. I too have never played Fable 1, but Im completely pumped for this game. I have recently rediscovered my love for JRPGs and a lot of what I love about JRPGs are replicated in this game, with a Western flavour of course.
Tease.