Obsidian has confirmed that their Project X, which they had been teasing all week, will be Project Eternity. This Kickstarter project (goal of $1.1 million) will be a fantasy RPG that pays homage to Planescape: Torment, Baldur's Gate and Icewind Dale.
Right now, the game is being developed for the PC platform. The lead designers on the game are Chris Avellone (lead designer of Planescape: Torment), Tim Cain (creator of Fallout) and Josh Sawyer.
Project Eternity is described as a tactical real-time combat. Key to battle will be pausing and positioning party members properly.
Players will create their own hero and gain companions along the way. The story promises to have mature themes and present players with tough choices.