Source
Description of trailer
So apparently this is heading for the Wii and looks pretty damn gory but at the same time stylish. Its by Platinum Games which was started up by ex-Clover Studios members who also did Viewtiful Joe & Okami as well as some members from Capcom. The video is being taken down all over the place by Sega so sorry if these vids go missing.
Could be for the Wii, could not but it looks like something that could be possible on the Wii.
EDIT: Proper screens further down this thread.