Unfortunately..
I certainly hope so! That would be very cool :)
He even posted this on his own blog now.. It's not bullsh*t. Check the alternative source that's provided.
The Team ICO game trailer was just a rumor. It was never confirmed and as we know now.. it never showed.
If the final game looks better than the trailer it will be absolutely amazing! The trailer is short, but it already looks very good. And an (graphics) improvement of 25% to 30% sounds good to me!
About two weeks old.