It's not often that you hear of a mech combat game in development, but indie studio Adhesive Games have announced their development of 'Hawken", which is exactly that. It may or may not be a replacement for the MechWarrior games of old, but there's little reason not to look forward to seeing more of what it has to offer.
A trailer of "Hawken" can be seen below, with a short preview of its first person gameplay at the end. The game is planned as a downloadable title for the Xbox 360, PS3 and PC.