If they can pull it off, it sounds like great fun.
Exactly my thoughts.
I remember, The Call of Juarez Demo wasn't the best running game, technically -- despite it looking really good. And, well, the load times were really nasty.
Hope they can improve on those two things w/ Dead Island.
EDIT:
Since Que is into zombie-destroying, I wonder what he'll have to say about TechLand working on a non-linear zombie-killing FPS....heh.