I wouldn't count it on being a reinvention of the paradigm of JRPGs, but it's nice to see Mistwalker is diversifying.

There are some things I'd like to see, though. If it's a game based for the Wii, and not based for the Wii's Virtual Console, it will involve the use of the Wii Remote; that would be one interesting hurdle to manage. Most of the current consoles are suggesting some kind of movement-based control (Wiimote, Sixaxis, Natal) in opposition to traditional controls. "First"-based combat is one perspective that has been rarely used ever since Final Fantasy popularized other kinds of perspectives. Considering how the newer JRPGs and related media is focusing on more complex combat actions (such as, for example, Super Robot Taisen OG Saga Endless Frontier, with it's 2D fighter-based combat), and related experience on the matter (Lost Odyssey's timing-based activation of weapon special abilities, for another example) may become a fresh and unique combat system. That's just to mention the possibilities of using the Wii hardware for a roughly traditional JRPG.

Now, it's quite early to mention anything, and roughly two months for a tightly-sealed project seems rushed in my opinion to provide any solid opinion, or to speak anything. It is, quite literally, a big tease from the Mistwalker company; it may also turn out to be a homage to that spark of inspiration that's now Final Fantasy. A gamble, so to speak.

Speaking of Xenogears/saga...apparently there's also a game from Monolith Soft, oddly named Xenoblade... Somehow, Nintendo may try to take the JRPG genre by storm? If that's so, The Last Story would be handling a very traditional JRPG from one half (so to speak) of the team that created the now-defined traditional RPGs on a quite unorthodox platform.