http://www.gametrailers.com/player/24772.html Looks like the intro has improved as well (It's not exactly the same as before, more suttle differences were added).
I thought the general consensus was it looked like a gigantic turd. Konami has the money and talent to make it well. If not, they could just pay Treasure. Look how good Gradius V came out.
I would say look at ultimate Ghost & Goblins on the PSP to see how someone can make a 3D game in a 2D view look fantastic. It's more then posible.