And a number of in-game screenshots (some pretty busy) and some limited footage. Then there's those gifs of the shield based combat, which is presumably cribbed from in game, and some other stuff.
As for the hype, well... It’s expected to be released towards the end of Summer 2012, but we’re willing to take the extra time to get things JUST right.
Time wise, it's interesting. From what I remember (perhaps entirely wrongly!), they inherited/bought some or all of the Terraria engine code, so the project wasn't starting entirely from scratch... the in-game stuff seems to reflect that -- looks a fair amount like a more polished Terraria. Though how much under the hood has changed, who knows, heh. Anyway, if the group is working off a previously (fairly) stable code base, potential time investment necessary to get things up and running may be drastically reduced.
That said, if there's any rule of coding that approaches 100% accurate, it's that all initial deadlines underestimate the amount of time that's actually needed. Still... before the end of the year? Maybe. Maybe. They've got more than one coder, iirc, and Terraria managed to get (perhaps prematurely, all things considered) released in, what, a six, seven month period (which is goddamn
blisteringly fast for game development of any major size)? We could see something similar. We're probably going to have an ETA update within a month or two, though. Eyes open!