I don't really have a lot to say about Asura's Wrath that the trailer won't say for me. I mostly just wanted to say that you should watch the trailer. So here's that, give it a look, and we'll reconvene under the video, cool?
So this game is attempting to bring Asian mythologies to a sci-fi world, and what we're seeing here in this trailer is a boss fight against a cyber demigod. Apparently said cyber demigod is in possession of Asura's daughter, and Asura is, you know, filled with wrath over this fact.
Also worth noting is that this appears to be at least partially gameplay, not just some cutscenes from a more-standard action game. I was left with the impression that the game is going for an "interactive cinema" sort of thing, which is really just a nice way of saying "it all looked like one big Quick Time Event." If the entire product is this wild, though, I'd certainly be OK with that. No word on if the entire game rolls out this way or not, but we did hear that the final US version of the game would contain English voicework.
Asura's Wrath is being developed by CyberConnect2 and it's due for release in 2012.