Personally, I think it looks really interesting. The character redesigns weren't nearly as drastic as one would think the would be. Those bandages, though... not really necessary. Why are they there?
Anyway, I think Sonic Team might be going all out on this one. It looks like they're bringing out the abilities of everyone. You know, Knuckles' climbing and digging abilities, Tails' tech prowess (dat laser, yo), and Amy's skill with her hammer.
I'm actually looking forward to this.