Sounds perfect to me

They're right, because it's being made by Crytek it could be a First Person Battler like Oblivion's first person.

That sounds completely implausible.

I'll take a game by Crytek over Santa Monica studios anyday.

It's actually interesting to compare the two studios.

Both devs have developed almost exclusively within the boundaries of one genre, Crytek (FPS) and SMS (Hack n' Slash).

Both studios have recieved critical praise and strong sales, with SMS taking the edge in both I believe.

Both studios are very technical minded.

And both studios may be about to branch out into other genres. Crytek for sure, and we have yet to see what SMS will do next.

Ok, several things I gather from this

1) If this is currently at 20% completion, I'm not convinced this is coming next year.  That's REALLY early and this also sounds like them branching out into new territory, which is never a fast proposition.  Likely 2012 release.

2) Crytek historically is known as a company that pushes graphic technology.  Its obvious from Crysis 2 that they've gotten a lot of out of the 360 (as has id with Rage).  An interview that Corrine Yu (lead programmer for 343 Industries) gave several months back had her rattling on about a lot of extremely technical things in the industry.  The most interesting thing (to me anyway) that she discussed was how, because of the ease of getting good results out of the 360, developers weren't pushing it like they were the PS3.  She wishes more devs would do that, as she says they haven't tapped into the real power of the platform.  ALL THAT SAID, I really wonder if this is an exclusive for the 360 so that Crytek's talent can get those kinds of results out of the 360's architecture.

3) We have no idea what kind of game this is going to end up being.  Intriguing.  Most intriguing.

I thought that was a given when they announced it with a CGI trailer and a placeholder name.  It was as bad as Sony announcing Agent at E309.

It's basically them saying "We have this awesome exclusive from *insert notable developer* on the way!  Get hyped!" 

Then the game finally comes out years later.

This is going to be a fantastic game. With a historical setting it can't go wrong.