The screenshot appears to be real-time showing off absolutely stunning visuals featuring reflection maps, moody lighting, and nice particle effects. It's set on what appears to be the interior of a ship

For those of you living in a cave with your wife who hasnt heard of LOTR, Metroid is being developed here in Austin by Retro Studios and is going to be a FPS game. Quite the departure from the sidescroller roots of all the previous Metroid titles.