You're on an island Zombies everywhere Focus on melee combat and surviving, with realism in mind.
That's about all we know, aside from this trailer:
wrote:
http://au.pc.ign.com/objects/829/829562.html Dead Island is a non-linear first-person shooter in which you find yourself on an island plunged into chaos. It's a place where the word "dead" has an entirely new meaning. Face the nightmare and fight for survival.
Use anything you find in your surroundings as a weapon. Make decisions that influence the entire world around you, take advantage of opponent behavior and game physics, and explore the secrets hidden in the darkest regions of the island.
Sounds like Condemned with zombies and in open rpg style. Also surprisingly, its only been announced for consoles with no set release date. I don't think such a game would take well on consoles if its realistically set. they tend to favour casual run n gun nonsense.