We've already looked in depth at the new graphical style for Borderlands in screenshots. But what we haven't seen yet is how the game looks in motion.
The trailer itself doesn't show much gameplay, but it does show a variety of gameplay. Make sense? We see some first person sequences, some racing sequences, some third person sequences, and maybe even - well whatever the hell that giant thing above is. All playable in four player co-op glory.
The first thing that comes to my mind after seeing the trailer in terms of style is Crackdown. Which is a good thing.