Until we see new pics or videos it is very questionable about just how much development has gone into this game. I've seen those animations too, Chris. The problem with them is that they are not in-game quality and the one video that we have for reference doesn't really show us too much because its short and the quality sucks. The game could still look like it did when the leaked footage made it to the internet or it could be miles ahead of it.
I'm inclined to believe its not because GBX never has anything official to say about it and they even went on the record to say that their focus on A:CM was redirected towards Borderlands for a significant amount of time before Borderlands got released. Contrary to what some people here want to believe, I doubt anyone has worked on this project around the clock since 2007.
Nobody is saying you can't believe whatever you want to believe, dude. I'm just saying that I need better evidence to believe any progress has been made on this game since last video was released a long long time ago. Until I get that, I'm logically assuming that little has been done for this game at all. I will believe otherwise when I see something that shows me otherwise.