http://www.pqhp.com/cmp/gdctv/ <--- while it claims registration is required, just enter random numbers into the fields and it'll pop the video up anyway. I've had reports of errors in various browsers - I use Firefox and can view it with no problem.

The presentation is an hour long and Wright begins demoing the game at 12 minutes. Watch the entire thing: it's amazing seeing this go from "neat Flash game" to "Sim City 5000" to "OH MY GOD" to "SFJKHKDFJKLGANJG".

Seriously, this shit will blow you away.

EDIT:

"Building sim" does not even begin to encompass the scope of this game. Watch the video and it explains itself.