Not Phantasy Star Universe 2 or that new version of Phantasy Star Portable 2, but a (supposed) real successor to the original Phantasy Star Online.
http://phantasystar.sega.jp/psportal/pso2/http://www.pso-world.com/From Shougai PSO, here's a list of all of the text scrolling across the background in the trailer. First, phrases that relate to the game's new components:
* "Action" and "RPG" re-connected
* Increased variety of client orders
* Map functions changing in real time
* User-created story
* New interface for environmental interactions
* Global support
* Thorough racial balances
* Full-user participation events
* Seasonal changes
* New chat system
* New mail functions
* Drastic item synthesis overhaul
* Even wider variety of ways to raise your character
* New direction of event scenes
* Approach from NPCs (New approach maybe?)
* Silhouette changes by add-ons (Not too sure what they mean here.)
* New photon arts (This was partially obscured in the video, so may not be 100% accurate.)
* Community support content (Again, slightly obscured in the video.)
* Additional customizations when you create your character
* Category-based weapon training system (Slightly obscured.)
* Implementation of asynchronous communication
* New party system
* Consideration of enemy cooperation
* Limitless content
* New approach to the game client
* Implementation of a new "life work" (Partially obscured.)
* Daily surprises
* "Annoying Orange card" system
* Mutual interaction functionality for new and veteran users
And now for words and phrases that give hints at the world of the game:
* Awakening
* Sealed stone monument
* Pure Dark Falz (Partially obscured.)
* Apostles of _____ (Partially obscured.)
* Camp ship
* Arkz
* Why is darkness born?
* Why is the Great Light no longer here?
* A world in ruin
I am equal parts excited and horrified. Excited because I love playing the Phantasy Star games, and horrified because Sega, and especially Team Sonic, is infamous for loving up every online game they touch.
I've played PSO and PSU more than anyone here, and I always got stuff for it. I know the game play is mediocre and the company support dreadful, but I was still addicted to playing them for a long time.