This guy got a 22 minute preview and interview of the game with Joonas, producer at Bugbear. Uploaded a few weeks ago, but I haven't seen it until now. He can't show any actual footage or even screenshots from the game, but it's interesting to listen to nonetheless.
Graphics seem vastly improved from the original teaser video, now looking more like in the video Santtu posted above, and definitely more like a next-gen game. The damage system - which is now fully dynamic :cheeese: - sounds very interesting, with cars that can basically fold in half. He says that it looks very much like Rigs of Rods, so he's got my hopes up there. :D Developers have also added even more destructible objects on the tracks, with the mantra it seems of "if you see it you can destroy it", upon which this guy promptly drives straight through a building, leaving nothing but a neat hole in the walls and a collapsed roof in his wake. This is getting more and more interesting. :D