Mostly live-action, with a few pre-rendered sequences thrown in:
You might have noticed that Monolith isn't developing this one. They've handed the reins to Day 1 Studios, the developer that produced the console ports of the original F.E.A.R. A press release on Day 1's website might explain where the trailer came from:
To further ensure extreme terror in F.E.A.R. 3, legendary horror director John Carpenter (Halloween, Village of the Damned) and critically acclaimed horror comic and script writer Steve Niles (30 Days of Night) have provided consultation to enhance several of the game's frightening aspects. Steve Niles co-wrote the game script with the development team and John Carpenter provided his expertise in crafting the in-game cinematics.
The press release also mentions that three members of the Fiendish First Family (Alma Wade, Paxton Fettel, and the Point Man) will return, with the latter two being playable characters in both single-player and "divergent co-op." (I'm guessing they're calling it "divergent" because you'll rarely see your co-op partner on your screen.)
The information we have thus far suggests that the protagonist(s) is/are working with Alma this time around. That would, at least, improve the internal logic of the original's narrative. By the end of F.E.A.R. 1, I had been so thoroughly beaten over the head by the "Armacham are the real monsters" plot device that I had no desire to kill either Alma or Fettel; i.e.: my mother and my brother.
I guess that means I'm F.U.B.A.R. in the head, but with all the super-psycho-apocalyptic domestic violence, that's to be expected.
