Irish Star Cave Studios has officially announced Terra: Formations, planned for a release on PC, PS3 and Xbox 360. The game has been quite a buzz during the latest conventions, and as the developers still are looking for a publisher there is no release date set. Terra is a MMOFPSRTSRPG - yeah, all that stuff in one game. The story is set in 2157, and as a player you have to choice to either run on the battlefield (FPS) and expand your stats (RPG) or be the commander (RTS) to rule the field. First image inside, and remember - as the studio opened in summer 2004, they probably are in early development.
Update: Added a gameplay video.
Update #2: Release date announced: Autumn 2007.