After seeing some of the gameplay footage in IGN's video, I have positive feels for this game. It looks like it could be Borderlands 2 DLC, but with new characters, brand new skill trees, new elements, new types of weapons, and a new gear slot, I can confidently say "I don't care if it looks like Borderlands 2 DLC".
It looks fun and appears to stay true to the Borderlands shoot and loot mantra. The article also mentions the story-line is larger that Boderlands 1.
If this really does drop in the Fall, Destiny will have a contender for my time.
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Not sure why they didn't make this for next gen. I might pick it up, but I am not sure. Hopefully gearbox is focusing on a sequel to Borderlands 2 for next gen.