I suspect this Armored Core V video is in Japanese because our feeble English-speaking minds can't handle its awesomeness.
The action seen in Armored Core V is a far cry from the lumbering walking tank school of gameplay, focusing on agile, fast-paced shooting action. This is probably because the battlefields are enormous, so that even with five of you going at it you need a bit of speed to find your foes.
A little further in we get our first look at the series's trademark customisation; you'll be able to tweak every part of your mecha for improved performance, tactical advantage, and personal play style.
Also: it's very dramatic. Armored Core V is due on PlayStation 3 and Xbox 360 in early 2012, courtesy of the illustrious From Software.