Guild Wars 2 Trailer, Details

There's a Guild Wars 2 trailer on GameTrailers.com as the first sign of the promised news on ArenaNet's online role-playing sequel. The first half of the high-resolution clip is pre-rendered, but striking, depicting all creatures great and small (especially the great ones). The later portions of the clip feature in-game environments and a bit of gameplay. Here is an updated Guild Wars 2 FAQ and a big batch of Guild Wars 2 artwork and screenshots, and there are also details on the game in a preview on Eurogamer and the preview on IGN also has a Q&A with the folks from ArenaNet. Here's a bit of Mike's own words on the topic:
We think of the Guild Wars franchise as the un-MMO, with all of the depth and social features you'd expect from an MMO but without the grind or the mandatory time commitments, and without the monthly fees.

Guild Wars 2 takes the instanced gameplay that allowed us to tell stories so effectively in the original and supplements it with a fully persistent world that provides easy opportunities to find existing friends and make new ones. It takes the flexible and customizable character progression from the original and adds new options, new playable races, and new personalized storylines. It takes the optional competitive aspect of the original and splits it in two, so that it's both more approachable for casual players and more of an e-sport for the hard core. It takes the unique skill deck system of the original and makes it more comprehensible, with a focus on quality of skills instead of quantity.

During the past two years of development we made huge advances to our game engine, adding a persistent world with free-form movement and exploration, day/night cycles, cutting edge support for dungeons and interior environments, numerous graphical advancements including support for more detailed environments and models, better lighting and shadows, new animation and effects systems, plus new audio and cinematics engines, a more flexible combat and skill-casting system, and so on. We also built an array of new content creation tools, enabling us to build a larger and grander world, bring it to life with a wide variety of events always taking place, create more unique and interesting adversaries, and tell stories more compellingly than we ever did before.