Kotaku has this amazing-looking video that may or may not actually be Beyond Good & Evil 2.
As outlandishly too-fluid-to-be-a-game slick as this looks, it also looks like the natural progression of the sort of character awareness toward the environment that Ubisoft's been perfecting since Assassin's Creed and the most recent Prince of Persia. But then, I'll also say upfront that I've seen confidential proof-of-concept videos come out of Ubisoft for other games that looked a little too good to be true--because they weren't true, of course. But even if this is merely an official example of the direction Michel Ancel and friends are going with this sequel, it's pretty exciting.