It looks spanky, but it is essentially a concept trailer. Tee last shot of the trailer is awesome. I'll be honest I was never a fan of the turok series. The N64 was always shit for FPS. Turok 2 was a good laugh. You could play as a dinosaur!
But look at it:
It's classic next-gen, see here for a more in depth guide to making things next gen. Lots of bump and some anti aliasing- check, make it realistic, add more brown-check, make it dark- check, add some bloom-check.
I'm saving up my pennies right now so I can buy a 360 just for this game which is due out Q3 2007 in the US so probably sometime July 2009 in Europe.
It looks like they were listening to me when I said add dinosaurs into games.