Big Huge Games - Ascendant Revealed but Canceled

Kotaku has details on the Big Huge RPG that Big Huge Games was working on.  Titled Ascendant, they have a bunch of concept art, screens and a rough-cut trailer showing a fantasy RPG with colourful Fable-inspired visuals.

According to the piece, both games they were working on are canceled but there are some potential buyers for the studio in the wind.