Finally some details!
The game has been in development along side of PSP2 Infinity. The good news is that we can suspect the time until release will be shortened because the game has progress on it already. The bad news is...could the game be technically short compared to other OnlineRPGs when it releases? And, what does this mean about the platform it will be released on? PSP2? (These are my speculations, nothing more).
For those of you more interested in the game and less interested in tech stuff, PSO2 will not be set in the story settings of Ragol or Gurhal. Looks like Sega is starting from the ground up again.