Other than the little blurb in Game Informer stating that it would use technology from Elder Scrolls : Oblivion and be set in a major US city, not much is known. I would guess that it might be a System Shock 2/Deus Ex kind of FP RPG, since that seems to be a growing trend in the genre, with Vampire : Bloodlines, Bioshock, and Bioware's unannounced game all going this route.
Troika is also working on a post-apoc RPG, and it looks like it will be isometric and real-time, although there might be a turn-based option. There are posts about the game at
No Mutants Allowed.