The main take-away: there's more Soul Calibur on the horizon. The action looks as fast and fluid as you'd hope from a mainline Soul Calibur game, with the outfits equally revealing.
Ignore the melodrama elsewhere in this trailer. We've never been ones to follow Soul Calibur's tale of "legends" and "history". We just like hitting people with swords to be honest. Hopefully the net code in this one is up to snuff.