(Many thanks to The Mega Man Network for keeping us in the loop!)
If you're new to this whole Rockman Online hubbub, allow me to summarize what we know so far: Rockman Online is a side-scrolling action RPG, boasting 3D graphics on a two dimensional plane, much like Mega Man X8 and Maverick Hunter X. Familiar faces and NPCs from the classic and X series will make up the game's cast. A slew of key plot details and summaries can be found here.
The game is being cooperatively developed by Capcom and NeoWiz with plans to distribute the title exclusively in Korea and Asian markets by 2011 . While there's been no word of a release for the West, a Japanese release is likely, if a trademark is to be believed.
Keep checking this post for more updates. You can check out more screenshots in the above links. I can't get either gameplay videos to embed here right now (loading VERY slowly) but I'm working on it.