Here's the premiere Borderlands
trailer from the VGA's last night. Not a lot to go on but the game looks like it could an interesting FPS/RPG hybrid. The game is a ways out (Holiday 2008) and there's not a lot of info on the game other than you're going to need guns, lots and lots of guns.
Borderlands is the new franchise from award-winning developer Gearbox Software and publisher 2K Games. Blending the frenetic action found in popular console FPS games with the character customization and procedurally generated items and enemies found in successful action RPGs, Borderlands offers a never-before-seen gaming experience.
Borderlands is an extraordinary cooperative experience, allowing for four players to share the same game experience simultaneously online. Players can freely join or leave each other's game at anytime, or choose to play in the full single-player mode. Borderlands features life-like character animations, impressive real-time physics and customizable vehicles. It will be available holiday 2008 for PLAYSTATION®3 computer entertainment system, Xbox 360® video game and entertainment system from Microsoft and Games for Windows®.