Tbh the gameplay footage and the CG looks like two different games; in the CG people die after a single stray bullet despite their bulky body armor and in the gameplay it looks like Quake 4 scif-fi run-and-gun. What I'm guessing is the end product will be Call of Quake. It does look pretty, but I dunno how much fun it'll be.
Actually, come to think of it, it looks an awful lot like Black. It must be exciting getting a good console shooter.