Here's the dramatic trailer that everyone is talking about:
And here's a cool article from Destructoid that talks about what sort of gameplay you can expect:
Seems like a unique take on the zombie game. A sort of mission-based survival horror, in a tropical open-world setting. It takes place in and around the fictional Royal Palms Resort on an island called Banoi in Papua New Guinea. It will feature up to four-player drop-in/drop-out cooperative play. To keep it realistic, guns and ammo will be scarce. It's mostly melee based, with the ability to use stuff from the environment. And it has minor RPG elements (involving a skill tree method).
Release is aimed for late 2011.

