Want to watch a movie? Because you won't be seeing any gameplay here.
From the youtube description:
Dishonored casts you as a supernatural assassin driven by revenge. You are the once-trusted bodyguard of the beloved Empress. Framed for her murder, you become an infamous assassin, known only by the disturbing mask that has become your calling card. In a time of uncertainty, when the city is being besieged by plague and ruled by an oppressive government armed with strange technologies, dark forces conspire to bestow upon you abilities beyond those of any common man.
In Dishonored, creatively eliminate your targets with the flexible combat system as you combine the numerous supernatural abilities, weapons and unusual gadgets at your disposal. Pursue your enemies under the cover of darkness or ruthlessly attack them head on with weapons drawn. The outcome of each mission plays out based on the choices you make.
I don't even know what to say about this game. First of all it's Bethesda and I'm still pissed at them for Brink. Also, the whole trailer is pre-rendered cinema and not gameplay and doesn't even hint at a release date (not even a year?). Lastly, this looks like they're stealing from BioShock with the steampunk design and the left hand super powers with right hand weapons. So yeah, not currently hyped for this, probably won't be added to the catalog unless we hear something more from them at E3.