PS3 Rumored Project TRICO video?

[Tiael]

http://www.1up.com/do/newsStory?cId=3174299

I wonder if this Team ICO's next project, and if it is will we see it finally at E3.
If this video is legit it's over a year old, so I wonder how the project is going nowadays. I loved ICO and Shadow of the Colossus so this will be a day 1 buy for me.

 

[Halifirien]

Beautiful vid. Team Ico is one of the main reasons I bought a PS3. I'd love to see them update the first two games to HD.