My only gripe (so far, anyway) is that it's a browser game. Well, at least part browser, because it claims to be a "gigantic game of both downloadable client and browser nature". It uses the Unity engine.
The tagline's "same story, different emotions". They also show a bunch of screenshots comparing classic scenes (E.g. LING ER IN THE NUDE! Er, from the back. With hair cascading down her back. And the bottom half submerged in the water. Yeah. You know, when Mister Li steals her clothes.) presented in both the old and new fashion.
The classes revealed so far are the swordmaster, hercules (fist user, I assume), assassin and wizard. There are both genders for all classes. I can't tell if the names there represent the characters, or their clans (sects, whatever you want to call them).
Will update if I get the time (and remember to).
Off topic: Hi Jen! Long time no see!

Really long.