Here is my analysis of the first GTA V trailer : http://grandtheft5.ucoz.com/index/gta_v_first_trailer/0-11
[0:07] This is the first scene seen in the trailer. There are a couple of notable things seen in this screenshot - one of these things is the surf board which can be seen leaning against the life-guard post, this could mean that surfing as a side-activity could be a feature in the game, and surf-boards could possibly be used as a means of travelling through water. The other notable thing in this screenshot is a couple, with what appears to be a pet dog (police officers may possess dogs also). What this means is that animals could make their first appearance in a Grand Theft Auto game. Whether they will only appear in cutscenes though, or whether they will appear during gameplay though; is at this stage not clear.
[0:10] This is the second scene seen in the trailer, and it shows several people jogging along a pedestrian walkway. There are two women in this screenshot (one of which is obscured by the man in front of her) and both are looking towards the two men jogging past them. There has not been pedestrian reactions this deep in a Grand Theft Auto game in the past, at least not with each other.
[0:12] By the looks of this scene (which is the scene that introduces the game and the title), there is an emphasis on the smog, which really depicts a true Los Santos/Los Angeles atmosphere. If you look closely at the top of this screenshot into the distance, there is a helicopter. This not only suggests that flyable aircraft look set to return in Grand Theft Auto V, but also the visibility distance for vehicles look set to be further then ever before. You can also see the immense scale also, with the skyscrapers of Downtown Los Santos being visible in the background.
[0:18] Golfing related activities look set to return from The Ballad of Gay Tony and "Grand Theft Auto: Vice City Stories" - but the ability to actually play full games of golf, and challenge other players (or NPC's ) in actual games of golf, in the game. That is the least of what this scene is suggesting. We also once again see the immense scale in comparison to the characters and their surroundings.
[0:19] We now get to the point in the trailer where we see several scenes of what appear to be a number of different protagonists. This first "protagonist" is clearly seen as being black in ethnicity and may be a higher-middle class person, seen riding on what is possibly his jetski, his neat clothing also gives the impression that he is a middle-class person (as a low wealth person would likely be wearing less-neat clothing.)
[0:20] There are also a number of things about this scene that could determine different gameplay elements - one of them is the characters which are seen hiking up a mountain - this is probably the first scene that could very well prove that Grand Theft Auto V will be set in the whole of San Andreas, and not just Los Santos. Hiking could also come out as a side-activity, too. Also, there are two characters holding hands, which signifies that girlfriends, at least to some extent; will return in Grand Theft Auto V - with hiking being a possible dating option. Being in a wilderness setting, a variety of different animals may be a possibility, with the player being able to hunt and harvest them, similar to that of Red Dead Redemption. The centre character also appears to have some wealth, and is white in ethnicity - possibly being a second protagonist for Grand Theft Auto V.
[0:26] This screenshot shows pedestrian reaction to a specific person in the game, with the woman seen taking some sort of notice of the man driving the car. It is also possible that the character in the car is a third protagonist, and by the looks of the locale and what he is wearing, appears to be apart of a gang of some sort - which if the case, gang wars could make an appearance in some capacity. The character in the car appears to be Latin/Mexican in ethnicity.
[0:30] The main thing in this scene is that there is gym equipment present on the balcony. This means that there may be a return for statistics similar to that were present in Grand Theft Auto: San Andreas - such as muscle, stamina and others. This screen also shows that there is no doubt a storyline in Grand Theft Auto V that goes from a rags to riches viewpoint of a character, considering the relative luxury of the house (or safehouse.)
[0:32] There is one main thing that should be pointed out in this screen, and that is the signs overhead of the highway. One of the signs says "Little Seoul", which is possibly a new suburb in Los Santos. The other one says "Los Puerta Fwy" - where "Los Puerta" could be another city that will be present in the redesigned San Andreas. Whether it will replace Las Venturas or San Fierro, or whether it would be added in addition to the three cities is up in the air, but this is solid proof that Grand Theft Auto V will be set in the whole of San Andreas.
[0:43] This screen suggests a couple of things aside from the possibility of Grand Theft Auto V been set in the whole of San Andreas. One of these things is the plane in the left of the screen which suggests that flyable aircraft could return in Grand Theft Auto V. The other possibility is a storyline, or "protagonist" being based in the countryside. Whether the crops seen in this screen is marijuana is unclear, but it is a possibility.
[0:48] This screen looks like what appears to be a bank robbery, which means that Grand Theft Auto V will see at least one of those "epic" missions. With the robbers wearing gas masks, tear gas may make a return in Grand Theft Auto V as a weapon. Also, the robbers are carrying assault rifles with silencers attached to them - this means that it is possible that the player can attach silencers to at least some weapons in the game. Weapon customisation may also be an option for Grand Theft Auto V.
[0:56] Hookers look set to make a return in some capacity in Grand Theft Auto V - with this screen showing a hooker soliciting a client - who is more then likely the or a protagonist. Nothing much else in this screenshot really - though it looks like that hookers will work in groups, as a second hooker is present in this scene.
[0:55] There is a character seen in this screenshot hammering a "For Sale" sign into the front strip of this house which means that the ability to purchase property as it goes on sale may be a possibility in Grand Theft Auto V. With the vehicle sitting in the driveway, it could be possible that the driveway will be the method of storing vehicles the player wants to keep - and the purchasing of property could tie-in with an empire building/gang wars feature, also. With the number "2405", the possibility of property having unique street numbers is also high.
[1:02] In this screen, a club bouncer is seen throwing out a patron out of what is most likely a night club. If this is NPC-NPC interaction, then this just further shows the increased depth of pedestrian interaction with the environment - but it also means that it is highly likely that nightclubs will make a return in Grand Theft Auto V in some capacity.
[1:01] This screen shows a jet flying overhead at high speed, further proving that planes and a wide variety of air craft may return in Grand Theft Auto V, and the jet being one of them. It may also mean that military will make a return in Grand Theft Auto V, also.
[1:07] There is quite a bit going on in this scene, with a or the protagonist being chased by a protagonist being chased by the police. The police on the ground appear to be giving chase in a group or "squad" which suggests that police are now smarter in Grand Theft Auto V, and evading the police may be a whole lot harder then ever before.
[1:11] Finally, there is this scene which, aside from a passenger jet which is likely to be flyable in Grand Theft Auto V, shows a drastically increased draw distance, and the overall perspective of the city.