From their announcement:
Shieldwall is our fantasy ruleset targeted for next year. Like the Quar they will be gritty yet whimsical at the same time. I think we have a clever mechanic for handling the big scrum in the middle that always comes with a big fantasy battle.
Aiming for a summer '12 release along with 4 different starter armies. Most of the troops for the four races are roughly hobbit sized, but each army will also have larger 30-55mm monsters.
I am going to work up a preview later this summer for release as most of the sculpts for two of the armies are done