Hey all. I follow Tanaka on Twitter and he made a post (in japanese) with a link to youtube. The video is featured on the official FFXIV channel.
I find it amazing that they've changed something that quickly. I'm pretty sure this isn't the final version of the battle system, but as you can see it borrows a lot from one of my favorite ff battle systems, FFXIII.
If the skill chain system still exist, would this speed mean you can self skillchain with ease? Maybe the battle regimen system will be replacing traditional skillchain. The effects gauge is gone, which I think is an improvement, as time vs. power is hard to balance out.