The trailer is gorgeous and looks remarkably like a playable Ghibli film. At the 0:46 second mark there's a direct comparison between an animated sequence and in-game footage, and there doesn't seem to be much of a difference. The video also shows off some of the varied monster designs, as well as the overworld and what look to be turn-based battles.
The PS3 version of the game is set to hit Japan next year, while the DS edition is expected to be released this December. No word yet on a release for the rest of the world.