VIDEO I've been playing the demo:
http://www.roflgames.com/DPadWebsite/www/OwlboyWebsite/index.htm It's a spritey action-adventure title. I think its been in XNA development for a few years by now. The music is nice but I've heard nothing as awesome as what's in that youtube. The save system involves talking to little water creatures which makes little sense so I played through parts of the demo without saving and got frustrated.
It reminds me of a GBA game, with the color pallette, but uses a twin stick/mouse sort of control with the gunners. Owlboy has a jump, flying and spin ability, but he can also pick up many things while flying including gunners. Levels are branching and feature different paths. Your big baddies are AIR PIRATES and the local monsters.
