As far as I can tell, there hasn't been a definitive answer to this one. I know Chris Avellone said that this potential Planescape: Torment spiritual successor would likely not be the Obsidian Kickstarter project, but there seems to be some indication that it actually is. Or maybe not, and this is a much more traditional fantasy game. Or even that the two have been merged.
Not that I'll complain either way, or reverse my pledge, but I would like to know where to set my expectations. I'll be more than happy to play any PC oriented RPG (more than a decade into the new millennium and I still don't own any kind of console - so I'm fairly disappointed in the direction RPGs have gone in) that adheres to the design ideals of that Golden Age in the 90s. But I'd prefer to play something Placescapian. Something that has the same weirdness, the same mythological melting-pot flavour, and the same depth (If I had to choose between an expansive world or a smaller but more dense one, like the city of Sigil, I'd obviously choose Sigil - both at once would be nice, but if I had to choose).
And while I'm always willing to tackle great fantasy, I also feel that there's so much traditional fantasy around (not just games, but books, movies, and even TV now) that I have to pick and choose. Which is a great luxury. But there's still only one PS:T. Even the New Weird books by the likes of China Mieville don't hit the right tone.
(If you're a PS:T fan and you want a reading recommendation, try the Dying Earth books by Jack Vance - the setting is rather different, but they have the same decaying, tragic-but-comic vibe that PS does. Also, the magic will probably seem familiar as well; Dying Earth was the original inspiration for the D&D magic system, right down to the Excellent Prismatic Spray.)
Anyway, I didn't mean to turn this into an essay about my personal tastes. I just wanted to know if there is an answer to the question in the subject. Is there an interview (since the Kickstarter started) or a post or something that I've missed?