Alright So right around the corner from today, coming out on Valentines Day, is Twisted Metal. Yes I know I just rhymed. And yes I know It's Ironic a gory, killing game is coming out on a smushy gushy love-oriented day. The Irony.

Release Trailer:
Twisted Metal: Hello, Mr. Grimm - PlayStation 3 Preview at IGN

So First off let's get down to Basic Info.

Brief Storyline Explanation:

High atop his penthouse office, a mysterious ringleader named Calypso lords over the contest of vehicle combat known as Twisted Metal. He returns again to host the ultimate contest of skill and destruction. Contestants have been chosen to compete and, should they emerge victorious, win whatever prize their heart desires.

The characters set to appear are:
Sweet Tooth (The Clowns)
Dollface (The Dolls)
Mr. Grimm (The Skulls)
The Preacher (The Holy Men).

Each character will have a storyline that can end in three different ways depending on action in the game.

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Background And Vehicles:
The current roster heavily hints the game will have nothing to do with previous Twisted Metal installments, being a new universe altogether.

New selectable vehicles in the game include:
Reaper (a motorcycle, likely Mr. Grimm's)
Roadboat (a car that looks similar to a Cadillac)
Death Warrant (a fifth-generation Ford Mustang)
Vermin (a rodent catcher van)
Meat Wagon (a medical 1959 Cadillac Miller-Meteor Combination Car, which closely resembles Ghostbusters' Ecto-1)
Axel (a vehicle consisting of two giant wheels)
Junkyard Dog and Crimson Fury also return furthermore proving the game will not be based on any previous installments.
Talon (a helicopter) [!!!!]

There are also cars that were announced at comic-con 2011 such as:
Shadow (a hearse)
Kamikaze (a Japanese themed sports car)
Darkside (a semi truck)
Juggernaut (an 18 wheeled semi truck)
Warthog (a tank with a car strapped to the top)
Roadkill (a junker with hot rod flames)
Outlaw (a beaten up SUV)

The game will, of course, have Sweet Tooth's iconic ice cream truck, which transforms into a mecha-robot for its special, similar to Sweet Tooth's special in Black.

Drivers and cars seem to be interchangeable in this game. The existence of Reaper hints at the likelihood of customizable cars/drivers.

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Weapons:

Not Much has been released about the weapons but there are 2 things to say.

MAJOR Explosives, and Sidearm Shotguns.

Video Link For Interview on Weapons:
Blasting Your Enemies Off the Map - Twisted Metal Video - - IGN

Hope this helps! Looking forward to DESTROYING YOU ALL >:]