I saw this at E3. It's still very very early, I mean we're talking pre-alpha here. Also actual gameplay demo portion lasted only a few minutes.
Anyway, everything they showed was in real time and I've never seen anything like it in regards to graphics and physics. There was no UI to speak of except for a little framerate counter in the bottom right-hand corner (ran in a modern PC--declared top of the line hardware--and ran mostly at a solid 30FPS with a few pauses here and there). There was no dialog trees/options when conversation took place, so it's tough to know what was scripted and what would be optional for the player. They did state this was the first mature LucasArts game game ever made, and that there would be no Jedi and no force powers--I like it!! My personal opinion is this is a next-gen console title and suspect we probably won't see it until 2014.
Other notes:
-I was able to confirm this was not Clint Hockings games.
-The environments were grimy, chunky and dirty with rubber tubes and piping lining the walls, crawling behind paneling. Much like the aesthetic we saw with the original trilogy (Episodes 4, 5 and 6), and not the ultra-clean sharpen ones from the new movies (episodes 1, 2 and 3).
-There was a point in the demo where an explosion blew a door open and watching the way objects reacted to it was stunning because it was remarkably realistic, and almost eerie.It just seemed so much more advanced than Havok.
-The demo I used a "test character" and not the real protagonist.
-All of Lucas Inc is somehow involved in the development of this game including Lucasfilm, ILM, Lucasfilm Animation, Skywalker Sound, etc.
-Voice acting was top notch and appeared to be
-All animations, including facial, are done via mocap> I'd say the quality was perhaps slightly better than what we see in the Uncharted series. It was remarkable.
Can't wait to see more!