According to a Famitsu report, Hideo Kojima estimates that Metal Gear Solid 4: Guns of the Patriots will need at least another year's worth of development time before it's finished. While Kojima had previously promised to deliver in 2007, he's narrowed that window to late 2007 -- at the earliest. For now, Konami is offering a new trailer, which is currently premiering at Tokyo Game Show.
The new trailer -- partially captured in bootleg form from the show floor here & here -- is allegedly 100% gameplay, although Konami has tweaked the camera perspective for clarity. At just 6 minutes, it's significantly shorter than the E3 presentation, but reveals new gameplay elements, including stealth items (e.g. an oil drum), the Octocam suit, and a shift from stealth-orientated missions to player's choice gameplay (i.e. you have a goal and are free to decide how to achieve it).