UPDATE: STEAM GREENLIGHT!
http://steamcommunity.com/sharedfiles/f ... =402654862

Squad will be developed as a "cooperative shooter", where high levels of teamwork and communication are supported, encouraged and integral to gameplay.
Complementary with that focus, the game will feature intuitive controls, fluid movement, realism, and a large scale environment, seeking to bridge the gap between arcade shooters like the Call of Duty and Battlefield series, and military simulations like ARMA.
*** The game is still under heavy development ***
As such many of the things you see here are either unfinished or a WIP. The video is rather ment to demonstrate the progress thus far.
Further info:
Squad's Official Forum:
http://joinsquad.net/forums/
Project Reality Forums - Squad Entry:
http://www.realitymod.com/forum/f11-off ... r-bf2.html