
Unreal Engine 3-powered "RPG" by Squeenix announced at TGS 2007 and coming simultaneously in Japan and North America this spring. There are videos on the official websites which make it seem quite a bit better-looking than Lost Odyssey (though backgrounds seem to be just as barren):
http://www.square-enix.co.jp/remnant/
http://na.square-enix.com/remnant/
TGS 2007 page: http://www.square-enix.co.jp/tgs07/titles/remnant/

Apparently, it will use SpeedTree to generate virtual foliage in real time.
http://www.famitsu.com/game/news/2007/0 ... 8,0,0.html
http://www.famitsu.com/game/news/2007/0 ... 6,0,0.html
http://www.gpara.com/comingsoon/lastremnant/20070510/