A handful of people funded by their own pockets will obviously not manage to create a game that screams high production values (graphics whores steer clear right now), but they seem to have what it takes to create a good RPG. It's just taking a fucking long time.
For more information about the game visit the official website (gameplay is all that matters folks so stop looking at the pictures and read the juicy bits about how the game plays and unfolds). Here's a really old combat video (with sounds ripped directly from Fallout) which should get the old school gamers around here pretty excited (the rest of you gtfo if you don't like it):
Edit: I played the demo, it's basically a series of arena fights. You get to develop your character's skills how you want, loot the bodies of the defeated opponents, and sell or buy new equipment. The combat is very tactical even in this limited demo. I liked it and found it to be very engaging, though the presentation is lacking to say the least, and the rest of the mechanics, like the camera movement, need work as they feel very primitive. I now want to see and play more (yet I hope a lot of it is set in interior areas - as in the video - because their outdoor - as in the demo - look the worst).