Some may remember the Wii game Madworld, which was developed by Platinum Games. For those who don't know, they were formed by staff of Clover after it folded after the release of Okami.
The below trailer is for Platinum's current project and features Madworld's main character, Jack. Anarchy Reigns is described as a "massively multiplayer beat-em-up" and is scheduled for release this fall.
EDIT: Screw it, the video insertion here doesn't seem to like me: http://www.youtube.com/watch?v=etCo_Zlfbe0
Considering that Bayonetta, Madworld, and Vanquish were all released to mostly critical praise, I'm interested to see what Platinum can do with a multiplayer game.