I think there was a thread about this, but can't find it. Well here is the first game play video I've seen: http://ve3d.ign.com/videos/27758/PC/Penny-Arcade-Adventures-On-the-Rain-Slick-Precipice-of-Darkness-Episode-One (http://ve3d.ign.com/videos/27758/PC/Penny-Arcade-Adventures-On-the-Rain-Slick-Precipice-of-Darkness-Episode-One)
Looks like its Final Fantasy style game play.
Got some mixed reviews that seemed to bother the boys a bit when they blogged about it.
The game is undoubtedly fan service though and I'm sure it will sell well.
PAX 2007 "preview" showing a battle (vs. hobos!) -- wry sense of humour, "Plank you very much", "Will deal damage for food", etc.
http://www.gametrailers.com/player/24195.html