The trailer that was unveiled at Metal Gear's 25th Anniversary event in Japan recently made its American debut at PAX Prime, with the announcement that we won't have to wait for the next generation console to play the game, it'll be coming to current-gen systems.
According to Joystiq, the game likely takes place shortly after the events of Peace Walker...
"The military base shown in the trailer, Camp Omega, is an American "black site" located on the southern tip of Cuba -- "A slice of American pie on Communist soil, and out of U.S. legal jurisdiction."
The small boy being held in the cage is Chico, a child soldier of the Sandinista National Liberation Front and eventual member of Big Boss' private military company Militaires Sans Frontières, who supplied intelligence during the events of Peace Walker. After the initial dialogue between Chico and The Disfigured Man -- our working name for the mysterious figure in the trailer -- the radio chatter we hear is a conversation between Naked Snake/Big Boss and another unknown member of Militaires Sans Frontières.
The woman mentioned during their conversation is Paz Ortega Andrade, also known as Paficica Ocean. Paz was a pivotal character during Peace Walker; a triple agent that infiltrated the Militaires Sans Frontières, the CIA and the KGB in order to further the agenda of Cipher, an organization that would later be know as The Patriots. As her body was never discovered after the aquatic destruction of Metal Gear ZEKE at the end of Peace Walker, her whereabouts have been unknown until this trailer, where we learn that she was discovered by fishermen and is currently being detained in Camp Omega, along with Chico.
Naked Snake/Big Boss' mission is to infiltrate Camp Omega, rescue Chico and Paz and deliver them safely to Mother Base, Militaires Sans Frontières' off-shore headquarters."
What's also known is that this game is said to act as a prequel to Metal Gear Solid 5. As far as the video quality goes, Kojima also confirmed that the demo was running on PC hardware that was similarly equipped to PS3, and that the final game should closely resemble the demo video. Also, Snake fans without a PlayStation needn't worry, the game will also be multi-platform.
We'll post more information as it becomes available.