Watching the TotalHalibut WTF is of Firefall from GamesCom; looks pretty nice. Firefall is an MMO Team-Shooter; direct control, 3 classes (as pointed out by commenters, 3 at GamesCom, will be 4 at PAX, and probably 5 at release), persistent world and character and loot. The game will be Free2Play and the shop will focus only on aesthetics! Neat. Looking forward to it. Planned release: December. Beta starts soon, sign-up on the website for a chance for an invite. Also, players participating will have the chance to invite friends from time to time and some partners/other places will provide beta keys in the near future.
/u: Part 2 is up.