Fantasy settings usually aren't big on the action.  The fantasy genre usually includes a lot of dice rolls and RPG elements that sometimes turn gamers off or overwhelm them.  Capcom's upcoming epic Dragon's Dogma looks like it might be a bridge between fantasy and action with a little less of the same old RPG elements.

Dragon's Dogma focuses on a living world and the player character.  The player will pick up companions along the way that improve their tactics through use.  These party members are smart, unique, and fight independently alongside the player.

You success in battle isn't just based on your smart companions.  As the player your hits and misses aren't centered around a roll.  If you're within range of a melee attack and connect with the enemy, then you hit that mob.  Dragon's Dogma is an action game to its very core.

• Highly Stylized Action Combat – The creators of this game were responsible for the
  action hits – Resident Evil™ 4 and Devil May Cry™ 4.
• Fight With Ability – The soul of combat comes down to how the game is played, where
  you strike the enemy, and how you react to their attacks.
• Accessible Depth – Bringing an unprecedented level of depth to the action genre,
  every decision has an effect on gameplay in an intuitive way that does not require
  micromanagement. The weight of your weapon, the material of your armor – even the
  length of your legs – plays a role in how you fight your battles, but does not interrupt
  the flow of the action.
• Epic Adventure – Dragon’s Dogma is built from the ground up as an action experience for
  consoles with a continuous, epic storyline that stands alone in style, scope and substance.
• Open World – Utilizing Capcom’s proprietary MT Framework engine and the
  groundbreaking graphical styles and lighting effects used in Resident Evil™ 5 and
  Lost Planet™ 2, Dragon’s Dogma expands the environment to create a vast, richly
  detailed world, ripe for exploration.
• A Rich Population – In addition to interacting with hundreds of fully voiced NPCs,
  you’ll be able to fight a large variety of creatures, from goblins to griffins and dragons.
  Each enemy requires a different strategy and provides a unique experience.

Dragon's Dogma is scheduled, currently, for an early 2012 release.  It will be on the Xbox 360 and the PS3.  No multiplayer details have been released, but there is a promised "spin" on multiplayer to be announced.