At this point the game is now running in 3rd person with a camera rig similar to dark souls...I just couldn't get the tight combat, fixed targetting and combat rolls etc out of 1st person cam. A hybrid that allows both options may be something I consider down the road when I am satisfied with the gameplay, so don't rule it out just yet!
This game is being built on the Unity platform, and hopefully will be on par with PS3 or better when I am done with it - it will be running in 1080p and targetted for PC, Xboxone and PS4 releases...pending dev kits and costs of course.
Progress? Well, thats a good question. I have a majority of the graphical assets I need to make the game, music and sound are also covered at this point. So the game concept etc is fleshed out but there is still an enormous amount of work to go, it definitely won't see beta testing until sometime next year.