So what is No More Heroes about? Well, it's a "free running/roaming style action game" that is set in Santa Destroy, a fictional town located on the West Coast of the United States. Game progression is handled through mission completion by the player (both main and sub-missions will be available). The main character, Travis Touchdown, is a man stuck in a life of poverty and must rely on a single form of transportation in his favorite motorcycle "Schpel Tiger." No stealing cars folks!
The rest of the interview confirms that No More Heroes is running on a new engine created solely for the game and Suda's thoughts on the Wii hardware.