MS Train Sim 2 several months ago released its first in-game video footage, which is quite exciting insofar as it shows the kind of scenery on offer and the fully manipulate-able cab. If you've not seen it yet, it's here:
http://tsinsider.com/Articles/WorkInProgre...tVideoLook.aspx
For those unfamiliar with the Train Sim franchise, it began in 2001 with the release of MS Train Sim, developed out-of-house. This is, to my mind, still the best train sim for mid-level players like me (i.e. not total enthusiasts but with an interest in trains.)
Anyway, it sold reasonably well, and development on Train Sim 2 started. However this was then cancelled.
Now, though, there's a new version of Train Sim 2 in the works, and interestingly enough it's based on the Flight Simulator X engine. More interestingly yet, it uses the same globe, so you can technically cover the whole world on rails: there would, in theory, be nothing to stop me from taking a train from Greenock all the way down to the Eurotunnel, and then across Europe and Russia all the way to Vladivostok.
Of course it would be impossible for the developers to provide accurate scenery and track running for the entire world, so what will be included are a few "high detail" areas, one of which is shown in the video above. There are only going to be a few of these - four or five - but just like with MS Train Sim the game will be fully edit-able, so there will be both commercial and free upgrades.
In terms of rolling stock, there aren't many details available, but like in TS1 there will be support for diesel, electric, and steam trains.


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