The details about Dishonored seem to bode very well indeed:

The player controls Corvo, once a legendary guard for the Empress, who seeks vengeance against the Lord Regent who framed him for the assassination of the Empress. Corvo is not only a fine swordsman, master-at-arms, and cunning infiltrator, but also possesses great supernatural powers. The game is presented in open world format as the player can roam The Isles as well as the distant Pandyssian Continent, though the primary setting for the game is the steampunk-esque city of Dunwall.[2] The game is in the first-person, with an emphasis is placed on stealth action and the utilization of gadgets as well as the environment to eliminate opposing forces. [3] In the Game Informer cover story, it was mentioned that every enemy in the game can be neutralized non-lethally, if the player so chooses. Lead designers Harvey Smith and Raf Colantonio have described the game world as a "simulation"; if the player encounters thugs harassing an innocent passerby, they can be fought off, but the thugs themselves exist within the game world prior to the event, rather than simply spawning in at a designated time or place. If the player encounters the thugs ahead of time, they can be defeated and the mugging will never take place at all.
Corvo has access to swords, daggers, and guns, including powerful but slow pistols and muskets. Some of his supernatural powers are the ability to freeze time for a certain period, and possess the bodies of small animals.
(from http://en.wikipedia.org/wiki/Dishonored_%28video_game%29)
If I recall correctly, they also have the art director from Half-Life 2 working on the design. I think there was an article about it in PCGamer a few months ago...