Interesting publisher choice.
I just hope that they can fix some of the engine problems the first game suffered from, such as memory limitations and having 80% (roughly) of the game on one thread, making anything above dual core have very little performance improvement.
Hopefully, with SE's large monetary support, Chris Taylors' brain and the lessons learned from the previous game they can pull off something fantastic. Maybe Square will even lend a hand with the story and cinematics. One can always dream.
I think I read somewhere that they are aiming for a Q4 '09 release, seems a little soon but maybe they have been working on it for a while now :4-dontkno