Take-Two Interactive only announced BioShock 2 two months ago, but the game already looks pretty close to completion. At least, one would think so after looking at an eight-minute gameplay clip hosted over at Shackvideo.
In the clip, BioShock 2 Creative Director Jordan Thomas provides a detailed introduction to BioShock 2, which will take place "many years" after the first game and let players take control of the first Big Daddy. You'll get to escort Little Sisters and grind Splicers into bloody pulp with your giant, arm-mounted drill, but you'll also be able to use Plasmids like in the first game to set enemies on fire and inflict other, miscellaneous types of damage.
Oh, and the game will let you take walks on the ocean floor around Rapture, the underwater city that provides the setting for both BioShock titles. Thomas says the ocean was very much a character in the first game, and you'll finally get to meet it face-to-face in the sequel.