The vid is not high res and it's single player action and features an earthquake, a very large building collapsing, tank battle, an air to air dogfight, as well as day/night cycles and particle lighting effects. The particle lighting looked quite impressive in spite of the low-res video.
A couple of things I've noticed from all of these vids is that it looks like DICE copied the magazine reloading of weapons from the Modern Warfare series; in addition, the other vid I posted the other day showed five marines in the firefight, which implies that the multiplayer squad system may have five man squads instead of the four man units of BC2.
Crap, there no way my old processor is going to to be able to process a 40 story building collapsing around me as well as the earth crumbling before my very feet.