Would it be premature to say this already looks like one of 2011's prettiest games?
It's Voxatron, an indie shooter in development at Lexaloffle. Sure, it's a bit sparse, but games don't look good on the basis of how many textures and models you can cram on the screen. They look good by virtue of just looking good, and Voxatron certainly looks good.
The game is built with voxels, so if you you think it looks like a more manic 3D Dot Heroes, that's why. It's basically the same thing, constructing a game world out of pixel cubes.
The devs say it's fairly simple - "mostly just Robotron set in a 3d destructible world with goofy creatures" - but given there's also a touch of Smash TV to the game (it's based in small "arenas"), that sounds just fine to us.
It'll be out later this year on PC and Mac (plus other undisclosed platforms).