Yes, it looks amazing and like a very unique gaming atmosphere to sink our fangs into.

The Fear, Overwhelming Odds, Isolation, Weakness of the PC (at the start anyway) and the RPG elements will hopefully make for a delicacy for many ravenously starved gamers, like me. :Grrrrrrr:

From what little we have been told and what I think I see, BioShock will be more of an RPG than SS2 in some very important ways.
It seems KLevine and Team have recognized the biggest flaw in SS2 the lack of choice in story direction, which is a must for an RPG, at least imo.

The Point View to me has very little to do with whether something qualifies as an RPG, even if Fallout would have been in 3rd or 1st person views I still would have though it was a great RPG.