PS1/2 Valkyria Chronicles looks promising.

[deathfisaro]

First I thought it was just another TPS that offers nothing but just fancy graphics.
It turned out to be a real time action strategic(or simulation) RPG.

Basically, it's a turn based SRPG, except that the battles are real-time.
During player phase, you can attack enemies, but enemies can only counterattack. Doesn't look like they can perform useful maneuvers during player's turn.
First it looked like enemies lacked AI and the action factor isn't very strong. But if you can imagine a boss character moving and performing a killer move during player's phase in say, FFT, that's really messed up. So I guess enemies being stupid during player's turn is actually preferable because this isn't a TPS.

I like the degree of customization available. You can level up different classes, recruit or release soldiers, customize weapons, etc.

Still the strong point is the graphics. It's actually pretty neat, looks like watercolor and the shades look like penciled in. Framerate looks decent from the videos Sega released, character movements are okay I guess. Also sounds effects are displayed as characters as if you're reading a comic book. (For example, when you fire a gun "Dan" will appear on screen, a small "gigigigigi" will appear near tank engines, etc)

Japanese release is Apr 24th, US release is Q3 2008, and there's a high chance this title will be ported to X360 because it was first planned for X360 later changed to PS3. In the meantime, X360 users can play Operation Darkness anyway.

I found very small number of screenshots. Visit http://valkyria.jp/ and you can download HD videos.