http://www.nintendic.com/news/1776
http://www.youtube.com/watch?v=rteazJGYPD4
This looks like it should be an EXCELLENT game. It's about time the DS got an FPS that was actually worth playing. Metroid Hunters was fun but paper-thin, Dementium was atmospheric but respawning monsters ruined it. This game cites games like Doom, Quake, and Half Life as inspiration and you can see evidence of that in the video. The visuals are impressive for the DS, especially the lighting (see the flashlight sequence at the end of the video).
The developers said they'll be leaving the controls fully customizable, so with the DS's touch screen this has the potential to be one of the best-controlling portable shooters in history. I hope the gameplay backs up the visuals and control versatility.
Even though the developer (No Way Studios) is a new studio and CORE is their first project, it sounds to me from interviews I've read that they really know what they're doing. At the very least, they know their way around the FPS genre, which is what really matters here.