Lair is a brand new Factor 5-developed PlayStation 3 game, deep in development and will apparently be an exclusive to the PS3. No surprise their as Factor 5 announced months ago that they were dumping Microsoft developed games.
The trailer is "Comprised Entirely of In-Game Footage" as it is expressed literally at the beginning of the trailer. The game will apparently be about life like dragon combat. No cute fuzzy dragons here. These dragons have slick looking scales and teeth the size of SUVs!
No word on any story or how dragon combat will take place yet, but the idea of life-like dragon combat is something to make many gamers pay attention to this upcoming PS3 title.