GridSpace is a top-down angled 3D arcade game that will aim to be more action oriented than other games of this kind (like Geometry Wars). It will hopefully have some RPG-like mechanics of being able to upgrade and customize your ship and weapon loadout, as well as explore the large grid space world. It is being made in the Blender Game Engine.
More Alpha Screenshots
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Description
Here's a screenshot showing off the 3D message boxes that appear when you talk with NPCs, as well as a simple town area (the walls are forming the boundaries. It probably could use a different grid tile for the floor, now that I think about it).