inSane, nothing was revealed about the game's actual gameplay -- it's being developed by Volition and won't be launching until sometime in 2013 (no joke!). Based on the initial trailer, it's clear that it'll be a horror game.
Hit the jump for the trailer.
Update: THQ's Danny Bilson offered a little more via Twitter, stating that THQ and Del Toro have been working together on the game for six months so far and just finished up "the story beats" yesterday, whatever that means. Finally, Bilson described the game as a "Horror Adventure Title."