Here's some information I found about the game thanks to Gamespot:
Quote:
Microsoft has released further details on the tentatively titled True Fantasy Live Online, which it says will be one of the largest massively multiplayer online RPGs to be created for Xbox Live. Like most online RPGs, True Fantasy Live Online will allow players to create unique characters tailored to their preferences and play style.
Following yesterday's release of the first images from the anime-inspired game, Microsoft has revealed that True Fantasy Live Online will take place in a world filled with fantastical creatures. Microsoft described a setting with broomstick-riding wizards and armies of knights working together to destroy evil creatures that threaten the innocent. Additionally, True Fantasy Live Online will make use of voice chat, which will allow for easy and effective in-game communication without requiring a keyboard.
True Fantasy Live Online is being created by Level 5, the developer responsible for the well-received Dark Cloud and the forthcoming sequel Dark Cloud 2, both for the PlayStation 2. True Fantasy Live Online is set to debut as a Japanese game, and Microsoft couldn't confirm at this time that it's planned for release in the US, although more will be revealed about the game next week at the Tokyo Game Show. True Fantasy Live Online will be officially unveiled at TGS.
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Also a few other screen shots:
Looking really good to me, hopefully they release it in the US.