Update: North America joins the Drakengard 3 party the day before Europe on May 20, with the game priced at $50. As revealed on the PlayStation Blog, Square Enix has an appropriately surreal tiered pre-order system in place, in which the earlier you order, the more extra stuff you get.
Square Enix also unveiled the action-RPG's collector's edition today. For $80, you'll get the game with its Japanese box art, a prequel novella, a game and soundtrack sampler, a two-sided collectible poster, and various bits of in-game content including prequel DLC starring One, the sister of the protagonist Zero. It'll be only available through the Square Enix online store, and just 5,000 units are being produced.
Original story: Drakengard 3, the first main entry in Square Enix's action-RPG series in eight years, is due in Europe and other PAL territories on May 21. According to the YouTube description on Square Enix UK's newly released trailer, the PS3 game will only be available as a PSN download in Europe, while North America is getting a retail release as well. There's no news yet on a release date for North America beyond a 2014 window.
Drakengard 3 is a prequel to the original game, and it has a mysterious connection to the Cavia-developed spin-off Nier. No surprises, then, that some members of the now disbanded Cavia team are on board at Access Games, the studio behind Drakengard 3.