209w ago - Up until now, the only image that has been released about Team ICO's next game is a single image of a chain hanging down what appears to be a well.
To quote: Today we help lift the curtain off of this project a bit and shed some light on what
Fumito Ueda has been up to these past few years and as you will see, it is rather close to ICO.
This is very early footage the next game from Team ICO. As with most early footage you can expect graphical enhancements for the final product.
Some of these elements, such as the main character, or scenarios you see here may not make the final cut.
Below is some early footage of the next game from Team ICO, exclusive to the PlayStation 3. This video may not represent the final product. Allow some time for this to buffer.
and now square is dead to me! 
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But what exactly do you do....? doesn't look like much action/adventure, except for that one part your... thing, lets call it "Griffon" the part where Griffon has arrows stuck in his fur, that may have someting to do with the action of this game, also the guard that he totally pwned, maybe theres more of them?
Hope to see more of this game, I always thought they should make a sequal to SoTC, even though i knew they never would, maybe this game will turn out better than a sotc equal would be.