Transformers! (Merged)

[Alex]

It's a a new J.J. Abrams movie. It is not Godzilla (no way that could get made without it being known) but apparently is a monster movie with the working title (but almost certainly not the release title) Cloverfield.

The entire thing is shot in that first person hand held camera perspective seen in the trailer.

At least according to a Jeffrey Wells source and he's generally reasonably solid on such things.