Check out the video with nice gameplay footage.
Sounds and looks really good -
Action combat with no animation lock
Shared open world areas that can be soloed
Instanced 5 man dungeons
Tieflings, Drow, Half Elves, Elves, Humans, dwarves
Foundry player created content tools
Wizard, warrior and thief with tree branches to specialize into other areas (shadow thief, control wizard, etc.)
Due out by the end of this year
GW2 may have a worthy challenger and TERA probably has another nail or 2 in its coffin...