It looks a lot like the Sonic/Shadow levels from Sonic Adventure 2, the only parts of the game that I enjoyed. If they've been emboldened by the Sonic only Wii game that came out recently and are expanding those decent Sonic levels into an entire game then Sega might just have something decent on their hands. Of course, that just means they've finally gotten around to making the true 3D Sonic game they should have made a decade ago.
I still don't trust Sega to pull it off though. I'm sure the were-hog aspect of the game, and anything else they try to shoehorn in, will be hamhanded and the story will have all the tact and grace of a one legged mule suffering from a case of explosive diarrhea. I'm not saying I don't want to be proven wrong, I've just been waiting along time for Sega to show me they still have a decent Sonic game up their sleeves.