I loved the Star Wars Trilogy Arcade game that came out in the late 90's and this looks like an updated version.
From what I can tell the game is on rails but you can control the movement to some degree. Looks like holding down fire when an enemy is within the large blue circle means you will automatically hit it(?). There's also a lock on for torpedoes where you can target a number of enemies at once and get a bonus.
So you control movement along a pre determined path and use the throttle to take corners sharper. Personally I'd just prefer the movement of a target around screen, but still, it's great that a new Star Wars arcade game has been made.
The graphics look stunning and I'm all for a game that puts you in the OT. I doubt it will get ported, but I'd snap it up even though it onlys lasts 20-30 minutes.
On a side note, here's an article about the canceled Star Wars Trilogy Wii game. It was to have been all the Rogue Squadron games with redone controls and fixes (the on foot sections of Rebel Strike?) The game was finished but canned at the last minute. Maybe one day it will get leaked.