Watched this earlier and it looks awesome. I'm so glad epic will be having a public beta before releasing gears this time around. I think most of us remember the mess that GoW2 was on release, hopefully they kill the innevitable bugs and/or imbalance from the beta early on before it hits shelves.
It looks great from what I've seen, but I'm not sure if I like the idea of the one hit kill sniper. It sounded pretty over powered to start off with but from seeing new videos I noticed you don't pick it up with much ammo and movement seems to be quite limited when it's equipped. A bit like gow2 when you picked up a turret or mortor. Time will tell, maybe they will end up nerfing it if it's abused in the beta.