GameCloud has a Pre-E3 Gods and Heroes article up for your viewing pleasure.
The game itself is action oriented with just a little turn based gameplay in order to keep it from being a totally twitch based title. In watching the developers play the game itself it's clear that there will be some massive conflicts in Gods and Heroes. In one scene our group of characters encounters a city siege from the outside with Roman troops firing catapults and aiming their arrows against the enemy which includes huge giants that were seen throwing unlucky troopers around like rag dolls. Another mytholgical creature we saw in action was the three headed dog the Chimera who uses all three heads to make you and anyone else he doesn't like into mince meat.
I've seen the news and the news is good. They also state that Perpetual will be handling all aspects of the game. SOE will simply PR, Market and Distribute the game.
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