“Phantom Dust” is a game developed by Microsoft Game Studios Japan, and seems to flying under everyone’s radar, as MS has said it will only be published in Asia. It is developed by the guy who worked in “Panzer Dragoon Orta”, and is even more visually gorgeous.
It has you fighting (3rd person) enemies in fully destructible post-apocalyptic urban arenas (more adjectives, anyone?) with some sort of deck of skills (attack and defense) that you can map to the face buttons of the controller to pick them up. It seems to be very much tailored for online play on Live, where you can (supposedly) trade skills and (obviously) fight.
It has gotten very good reviews from Japanese magazines (34/40 and 36/40) but Microsoft is still vehement on not publishing it outside of Asia — in spite of it already having an English language option. I don’t get these people…