It looks like a poor mans Final Fantasy when you look at it. It is a "Steam Punk" world full of weird creatures that you need to kill. I'm also no Japanese translator, but I'm sure that you will have to save the world from some weird creature/event that is taking place. All in the manner of what looks like Final Fantasy XII fighting and very low end looking graphics. At least this is my take from this new footage.

Granted, Squenix has been working their asses of to get us all Final Fantasy XIII, but come on. It really looks like all of their power went into FFXIII when compared to this. But like I said, maybe things will change before the game finally hit's stores. Like that this was an early video that just got placed out to the public. I can hope.