No embed code, I'll give the source page a look if I can find it though but until then you guys will have to do with a link. 
 
It is by a French site called Jeuxactu but it is Jason Vandenberghe the producer of Red Steel 2 who I believe is Canadian that is doing the tour in English.
 
 http://www.jeuxactu.com/article-42503-exclusif-red-steel-2-visite-des-studios.html
 
edit: Ok so at a point it is the main gameplay designer who gets the microphone, good luck with that.
 

• Apperently the world is somewhat open with questgivers in them and there are "dungeons"
• 8 to 10 hours long
•  It has quicktime event here and there (check around the 10 min mark where they show some brand new footage)

Haha, It's great to finally see inside the studio I've been ridiculing for so long.  I bet it was the Canadian dude that led them all astray, he does look like the type of dude that would frequent the Moroccan district.
  
I have no faith in this game, nothing in that video reassures me. 

Not expecting to much of it myself but i'l looking forward to the combat. Story looks like it is non existent at this point. Guess we'll see in 2 months.

Only near the end is new footage, the QTE on the truck. The rest is just old videos including the very first pre-rendered concept video.
 
Looks like a fun environment to work in with, eh, unique people in it.

Gun and sword combat never appealed to me about the first game, for me it was the Yakuza setting.  What he says about Cowboys and Ninja's "working", is laughable. That dude smokes during work hours. This game should have gone where it should have gone the first time around  - Shanghai. Sadly for Wii, It's only the 360 and PS3 that get games made in that studio.
 

@Rallier

" Not expecting to much of it myself but i'l looking forward to the combat. Story looks like it is non existent at this point. Guess we'll see in 2 months. "

Everything I like rules, everything I dislike is shit that should never be made and its creators are crackheads.

The setting is fine and stylish, combat looked fun on hands-ons, if all the elements add up to a quality product remains to be seen.