It looks like someone over at Film Popper (as well as some other movie sites, as I've now confirmed) has seen the Super 8 trailer and has a pretty nice rundown of it... and honestly, it sounds pretty freakin cool.
The trailer starts with a black screen, that says Steven Spielberg is the producer. Then a small written narrative begins that reads something like this. “In 1970 [editor note: actually 1979 according to other sources] Area 51 was closed down and everything was shipped to an undisclosed location in Ohio”. Then you see a train carrying lots of cargo loads. Cut to a car driving down the road that jumps up on the tracks and heads straight toward the train. Cut to black screen and then the words “From Director J.J. Abrams”. Then back to the train and car colliding into each other, the the train derails, the camera slowly zooms in on one of the tipped over cargo cars of the derailed train, then something is punching on the walls inside the train cart trying to escape. Cut to black screen and then the title ”Super 8“. [editor note: actual text reads "Next Summer. It Arrives.... Super 8"]
So it looks like this is the announced collaboration between Steven Spielberg and J.J. Abrams that was announced last week. It also looks like it has nothing to do with Cloverfield as first rumored, which is totally fine by me because this sounds just as cool.
Thanks again to Yiddleja for posting this in the comments and keep this page bookmarked for more news regarding this project.