I actually had the chance to visit Big Huge Games' studio in Maryland last month and check out Kingdoms of Amalur: Reckoning, the single-player action RPG that sets the stage for the upcoming "Project Copernicus" MMO. The NDA just dropped today, so here are some articles to check out: Our first look at the Reckoning demo A Q&A panel with Curt Schilling, Todd McFarlane, RA Salvatore and Ken Rolston
As far as the single-player game is concerned, it plays similar to Fable. The graphics look great and the combat is impressive. From what I saw in the demo, if you're a fan of action RPGs it will be worth checking out when it launches next year.
They couldn't really talk about the MMO, but they did mention that the art style will be completely different from Reckoning. However, the world that RA Salvatore has created is massive. The team has 10,000 years of history at its disposal.