I have literally NO IDEA what kind of game this is, but it should be quick looked, if only so we can hear Vinny, Brad, or Patrick try to say the name.

It is basically a dungeon crawler similar to Wizardry. Wizardry is big in Japan, and apparently still a pretty popular genre. (E.g. Etrian Odyssey, Unchained Blades, Class of Heroes, Labyrinth of Lost Souls). 
 
I believe this is a remake of the first game in the Elminage series, originally on PS2. 

@galloughs: What, "turn-based first-person 6 character party dungeon crawler" wasn't clear enough for you? :P

Anyway, here's a gameplay video of the Japanese version, hopefully it'll give you a better idea of what the game is:

Looks and sounds pretty awesome, seems like the enemy positions in battles play a pretty big role. That might have made Etrian Odyssey a bit too crazy.

Looks interesting, although I thought Labyrinth Of Lost Souls was pretty dull.