This is an article I found in the late December edition of Weekly Famitsu (12/27). I am kinda surprised that it still hasn't received any press over here considering it's one of Enix's next big things. But anyways, here's a quick brutal preview of the basics.
The main character is a dragon knight named Kaima. He was the prince of a small nation, is 24 years old and has type AB blood. In order to become a dragon knight, he sacrificed his ability to speak (In several pictures you can see a tattoo etched into his tongue). He also has a troubled past, with his parents being murdered by the very dragon he now rides.
In addition to Kaima and his red dragon, there will also be numerous other characters. This includes his sister, Friae (fu-ri-a-e). She lived as a princess until she was 14 and then she had a vision of a goddess. Since then she has been cursed by fate to live as a goddess.
This game has two primary modes of play. One is battling on foot against hordes of numerous enemies. In the other, you're flying a large dragon and fighting in the skies. The transition between these two fighting modes is pretty much seamlessly executed. Basically there are three arenas: upper and lower sky, and the ground where action takes place. Like any RPG, character growth is an important component. There's an excess of 50 weapons that Kaima can equip and his magic powers will increase with use. The dragon will also change and grow as the story progresses.
Just taking a look over the article, I can say that the game looks nice. The CG and in game graphics look great. The game sports a well-done medieval atmosphere, complete with castles and knights in armor streaming across massive gray battlefields. The ground battles look similar to Dynasty Warriors with dozens of expendable enemies standing around. This lower sky mode looks like a fun "power of God" type. You fly over the numerous enemy troops from the ground mode spraying fire and looking pretty near untouchable. Finally, the upper sky is primarily flying ships like blimps. The game's scheduled to be released in the spring of 2003.