As with many other new games, Might & Magic will be shown at PAX East.
From the brief announcement trailer we see it is still first person perspective. Only 10 seconds of game was shown so far.
First Person, 4 person party
Turn-Based round combat
Possible grid based movement?
This is a surprise after they launch Heroes 5 with entirely new universe and Lore with some similarities.Picking up after the events of Might & Magic Heroes VI
Guess we get to wait a day or 2 to find out more. This is surprising coming from Ubisoft.