I feel....we need to not only see the game in action, but actually play the game to know what's really going on. Some of the ideas sound 'crazy' (such as no longer collecting health and missles from enemies) while others sound really good (such as the game focusing on the traditional sidescrolling roots of gameplay while being able to go into first person mode anywhere).
In the end, I don't think we can pass judgement until we actually have the game in out hands and try it. For a game of this magnitude, even videos aren't going to tell us the whole story.