It originally had the working title of Ruin, but now this action-RPG that Sony's working on is called Warrior's Lair. I rather liked Ruin as a title, but Warrior's Lair is actually more suitable--or so it seems from what information I was able to gather--since players will have their own lairs, which may be more than just in-game places to keep loot (at least I really hope they will be).
I have some early screenshots, too (you'll find them titled Ruin, from the old title). While some of them are pretty standard-looking medieval RPG fare, there are indications that there could be some very cool, innovative aspects to this game. I'm looking forward to seeing how it turns out, anyway.
Screenshot © Sony.