Good trailer, very well directed. It bumped Borderlands up onto my wait for a review list. No idea what the music was but it fit really well with what was shown of the gameplay.
I think anyone expecting a new C&C Fallout RPG is going to be sorely disappointed. It looks like TF2 + L4D with RPG elements. Quirky graphics, tongue in cheek humor and gratuitous violence.
I certainly don't mind the graphics, it's nice to have some variety. My biggest concern is the how well the character art matches up with the environment, they looked like they were done by two completely different teams.
We'll see.