I guess John was a bit down on Medal of Honuur. Nevermind! Here's a first personly experience RPS can get behind.
Under development by a bagful of ex-modders and level designers, Depth is an asymmetrical multiplayer game that recreates the timeless struggle twixst man and shark. One team controls speargun-equipped divers, and has to recover a priceless artifact and take it back to their ship. The other team controls sharks, and must eat them. The shark players also can't see very well, but can detect motion, and can smell blood from miles away. Ooh, and there'll be classes, too. Big shark, perhaps? Skinny shark. Fast shark! Hungry hungry shark. But enough of my wild conjecture. A trailer released back in August is after the jump.
I should also point you towards the screenshots here. They're wonderfully moody. I'll absolutely be bringing you more info on this as soon as the team release it.