The franchise known as Drag-On Dragoon in the East and as Drakengard in the West has been missing in action for the past seven years. Originally developed by Cavia, the (now defunct) team who made Nier, the torch has been passed to Access Games, who you may recgonize for their work on Deadly Premonition and Lord of Arcana.
The trailer actually paints the game in a positive light for once. Drakengard 3 was first shown off earlier this year with screenshots that made every gamer cringe and question why this was a Playstation 3 game. The visuals looked incredibly dull and could have easily been mistaken for a Playstation Portable game. The debut trailer helps only slightly with that as the graphics definitely look better than they did before, but still don’t look anywhere near what we’ve come to expect at the tail end of this generation.
Regardless, be happy that Square Enix is still investing in the series as the third iteration will be out in Japan later this year with a North American release coming at an unknown date.