According to Gamasutra, the game will be heavy on the motion controls, allowing players to control the dragon's movement and powers through a unique "two-handed" control configuration. The title is an arcade-style hack 'n slash, according to D3 PA VP & COO (OMG! BFF TTYL) Yoji Takenaka, and will feature an original story by Richard A. Knaak, best known for the DragonLance series, as well as a number of Diablo and Warcraft novels.
Dragon Blade: Wrath of Fire will be released sometime in the fall. Check out the trailer embedded after the break (thanks, Enycma).