I remember.
The FMV was bloody awesome.
The problem was that they were FMVs, and the actual game footage, well, sucked.
If Retro/Nintendo DO resurrect this game (I doubt it, but if they do, it won't be for a while), The realtime footage should look awesome. The level of detail, and clarity of the graphics in Metroid Prime are such a great indication of the detail that Retro could go into with a revamped Raven Blade. The artists there are very good. And since they're making Metroid Prime 2, the level of detail would be raised again. Hopefully, this will the the mark that Retro are ready to start production on Raven Blade again.
Retro also had a footbal game and a game called Car Combat in the works. I didn't see anything from the football game, but the renders for Car Combat looked simply amazing.
IGNCube had a movie on the movement tests for the characters in Raven Blade, and the Cheerleaders from the football game. Even though the graphics didn't look so hot, the physics were pretty much spot on, IMO. Especially with that squid-like thing.