SEGA and Tri-Ace have shared a whole bunch of gameplay for their upcoming iteration with Phantasy Star, titled Phantasy Star Nova.
The game is being developed by Tri-Ace and is set on a planet that the crew crash lands on, which is filled with giant monsters called Gigantes.
In the gameplay you can see some intense battles with the Gigantes:
http://www.youtube.com/watch?v=wGmThdbsqPI
Phantasy Star Nova is scheduled for release on Playstation Vita next year.