I can't believe I am just now learning about this. Apparently, the trailer debuted at the VGA 2011.
http://www.youtube.com/watch?v=6zZiu1nQR5o There it is. The trailer states that this was captured from a PS3 system (maybe) and it looks really nice.
It's basically a post-apocalyptic game with two titular characters, Ellie (14 year old girl) and Joel ("a ruthless survivor"). It is not a zombie game, but a "love story about a father-daughter-like relationship." The "zombie" part of the game are fungus infected humans. I find this a bit more realistic than a virus as there is a fungus that takes over the brain of ants to get the ant at a specific location before killing the ant. The part about the fungus taking over the brain of the ant is the basis for the game.
The trailer had me a little on edge when they were in the bathroom, door open, and the fungus zombies were just outside the door.
It looks very promising, but, then again, so did a lot of other games. But, then again, Naughty Dog has a very good track record. If the gameplay isn't good, the storyline should be. Naughty Dog definitely knows how to tell a good story in a great way. We'll have to wait and see.
Edit: Here is a Wikipedia article on the
ant fungus; for those who are interested.