Konami recently released a new trailer for Terror of the Stratus, their upcoming PSP action RPG developed by Nude Maker. Have a look:
Terror of the Stratus has two modes – a Defense mode and an Extermination mode. The former plays like a 3D action game with a side view where you search for weak points before fighting a giant enemy.
Once you send a weakness report to your commanding officer, you can move onto Extermination mode where you do battle. More on these modes here.