I love both companies' work and both are among my favourite in their respected medium.
I have high hopes for this game. At the very least it'll no doubt ooze with charm much like Professor Layton or practically Ghibli film. Great collaboration, I think.
@Onyxmeth: I cannot imagine the game having much, if any, similarity to past games like WKC or Dark Cloud. Judging from what limited gameplay we've seen and its style, I would say it's more akin to DQ or Professor Layton.