CryEngine 3
    Singleplayer, Offline Co-Op, Online Modes (Akin to 'Demon's Souls')
    Connect with a huge community online and on the web, sounds kinda similar to an MMO
    User-generated content is a key feature
    Due out at some point in 2014, Alpha Testing next year
    Mash up of Freelancer, Privateer and Wing Commander
    Political drama inspired by the decline and fall of the Roman Empire
    Your goal is to get into Squadron 42, kind of like Space Foreign Legion
    Encourages random exploration of the universe, huge uncharted sections for the taking
    Seems to be Buy to Play, ala Guild Wars 2, once you buy the game, you can play for free online forever.

Can I have a medium-sized ship with a single launchable fighter aboard? Yes.
Can I get out of my ship and shoot people in first- or third-person combat? Yes.