Here's an article from Rock Paper Shotgun. Just as a note, the reveal trailer is a bit gory.
I am glad that it is Larien working on it, since both Divinity 1 and 2 have been well recieved and I have enjoyed playing Divinity 1 so I do think they have a good amount of experience behind them.
I haven't finished Divinity 1 and don't own Divinity 2 for that reason. I enjoy the gameplay well enough and the characters and writing are humourous. Why haven't I finished Divinity 1? I'm not too sure, not invested in the story much I suppose, also it's difficult to get back into it after a long period of not playing.
I'm also glad this isn't going to be a continuation of the story from Baldur's Gate 1 and 2. That was all finished and tied up so not tacking more onto the already closed story is a nice show of restraint.
I look forward to seeing what they come up with. I don't really have any other feelings aside from curiosity. Calling it "Baldur's Gate" feels like it would be more limiting than anything else because it doesn't really describe anything about their story other than it takes place in Baldur's Gate. I know it works for marketing purposes but, eh whatever.
I'll miss the move away from the Infinity Engine and THAC0 though.
There's been a number of spiritual successors to Baldur's Gate, I believe that mostly meant an epic storied RPG like Pillars of Eternity or Torment: Tides of Numenera. There hasn't been a game with the same title as the originals though, well except for Baldur's Gate: Dark Alliance.