Media Vision, developers of the Wild Arms series of RPGs, are working on an RPG for the iPhone entitled Chaos Rings, which looks way too damn pretty to be an iPhone game. Joining Media Vision on this project is Yusuke Naora, who worked as an art director and character designer on several Final Fantasy titles, including Final Fantasy VII and multiple entries of the Compilation thereof.
The game looks like it wouldn't be out of place on the PlayStation in the late 90s, or perhaps today on a DS or PSP. The game's storyline revolves around a fighting tournament and intrigue and drama surrounding it. You can check out a trailer at the end of the newspost.
Basically, if you own an iPhone or iPod Touch and are fans of Wild Arms and/or Final Fantasy (some of you, maybe?), then you should probably keep this on your radar.
TrailerSource:
Kotaku