A few days ago, Zenke brought us news that the folks behind Ragnarok were working on a "Horror MMO" called Requiem: Bloodymare. At the time, we had no idea how you'd pull off a gory, horror-based MMO, but thanks to Joystiq's YouTube-searching abilities (these videos were all posted back in November-- whoops), we now have video, and you can see above just how this thing might play out.
In a few words, "just like every other MMO." Granted, this is the starting area (which explains why the mobs are just standing there being neutral), but even the trailer itself doesn't promise anything super new-- the same old spells, grinding, standard MMO gamplay, and "extreme battle effects." It doesn't look bad, but it doesn't look new either, so anyone hoping to have a real horror experience in an MMO (I had my hopes up, if only for a second) will still be waiting.
But maybe the quest text, in Korean in the video, will add that much more to the experience. Release is set for sometime this year, so we'll see.