It's similtaneous turn-based combat, with each turn being about 10 seconds. But the big thing is that after the battle has finished, the AI director puts together a short film showing the full battle with highlighted points, and it's very much like the new TV series in feel - long-range zoom-in camera shots, over-the-shoulder shots with vipers, glorious explosions...
I saw reviews from both Total Biscuit and ACG and I immediately put the game on my steam Wishlist.