http://www.square-enix.co.jp/games/ps2/hagaren/index.html <- Videos here.
Square-Enix are making a PS2 game for Full Metal Alchemist. Looking at what screenshots there are, non in English, combat looks similar to Kingdom Hearts, real-time with RPG elements like the standard EXP, levelling up, and other stuff.
What with the transmuting abilities of the heroes, being able to turn anything into anythign else (although they’d never manage to implement that entirely in any system) and the anime background, this could pwn, and pwn badly.
EDIT: Yeah, watched the small trailer on the site. Looks like you can target certain objects and turn them into guns or turrets and stuff. (find the one where he turns a lamppost into a massive cannon and starts shooting people in 1st-person view, and where he turns a table into a sword and does Devil-May-Cry on people’s ass^^). Still looks like it’s going to play like KH.
Watch the clip where Ed claps his hands together and causes a massive spiked iron pillar to rise from the floor, watch Al grab it, and watch Al spin around like a bloody tornado and kill everything inside a 2-metre radius.
I want.
And because enough people haven’t been getting it;
GO WATCH THE DAMNED ANIME ALREADY! >:O I will coninue to say this until you do. 
EDIT: Oh crap, wrong forum. ;;>.>