Just watched the trailer. Netdevil's last project (Auto Assault) greatly disappointed me, but I'm hoping they've finally gotten that whole "HAY GUISE LETS MAKE A WOW CLONE LOL" thing out of their system. It they shift the focus of the game away from quests and level-grinding and steer it more towards socialization and emergent gameplay (you know, the things MMO games are actually good at), then maybe they'll really pull this off.
The thought of building an awesome spaceship/aircraft/racecar from the blocks-up and zooming around shooting evil purple dudes with a group of other players also trying to show off their custom-build vehicles certainly has a lot of appeal.