In the video is seen, how Hajime Tabata shows several aspects of the gameplay for the first time in motion:

1. The basics of the game
2. A fight against a powerful enemy
3. A look at some of the challenging missions that require multiplayer
4. A look at the air ship that you can control yourself

Thus it is at the beginning in the magic academy, which is to serve the player as basis between the missions. Tabata confirmed that the academy of relatively large area to consist is, which is seen already good in the video. In addition it is shown player in the classroom, students take classes for improving their magic abilities.

A feature not seen so far yet, is the fact that during exploring the academy, you'll notice that the time counter in the lower right is slowly going down to zero. Once this reaches zero, you'll begin a mission that's part of the story. This mission is required and will take you out to specific mission points on the world map.

Tabata confirmed here that the map of the world will be exact which the fans from Final Fantasy is used i.e. very extensive areas, many areas for exploring, and regular random fights. A further feature will be here that by the circumstance that the world of the play is in the war, on the map of the world even this is also actively operated. 

Likewise for the first time shown, during battle, you'll notice that the characters absorb energy from their fallen foes. This is a special system in Type-0, explains Tabata. The energy is called "Phantoma." When you absorb it, you recover some of your MP. This is particularly important for Type-0, as the game is heavy on magic use. The Phantoma is also used for customizing and upgrading your magic.

As the extremely action-heavy mission progresses, Tabata explains the game's "kill sight" system. You'll see a red mark appear on the enemy as you fight. This is shown when the enemy leaves an opening. If you connect an attack during this time, the enemy will die instantaneously. The system name is "Instantaneous Death Battle". 

Continuing with battle, Tabata shows a character change. During single player play, you can freely switch off between characters. In this case, Tabata switches to recently introduced Sice. You can see how wide his attacks are thanks to his scythe, although Tabata also notes that you can connect attacks together. He then switches to Rem, noting that she's particularly adept with magic attacks, then to Queen.

Next, he summons Golem. You can call out the game's summons whenever you want, but the calling character is killed off. In this case, Sice is sacrificed to bring out Golem, who is particularly strong with physical attacks. For normal enemies, Golem can just stomp on them to do damage. As you use the summon, you can see a timer counting down the time limit to the right. 

For the last, Tabata shows the playable air ship sequence. The reason Tabata wanted to show off the air ship sequence is because it has shooting elements! You can blast away at things.

Tabata promised further information to the multiplayer mode in a later update.

Related Post: Final Fantasy Type-0 release Summer 2011 in Japan, Final Fantasy Type-0: going to be released on twoself-contained series UMD