Despite looking like Panzer Dragoon, being developed by Panzer Dragoon creator Yukio Futatsugi, having a codename referencing dragons with the same initials as Panzer Dragoon and, most suspiciously, having a codename at all, Microsoft Game Studios VP Phil Spencer told Joystiq he "woudn't call [Project Draco] a Panzer Dragoon game."

"It's a Kinect game for one thing, which is going to have its own take on it," Spencer said, referring to the concept of riding a dragon. Spencer added that "there are some differences between -- as a Panzer Dragoon fan -- the stuff we've seen in the Panzer Dragoon series and [Project Draco]," but he didn't elaborate on those differences. During the Microsoft keynote where the game was announced, Futatsugi explained, "What I wanted to do most is to fly." So perhaps Draco is more flying and less on-rails shooting?

So if it's not a Panzer Dragoon game, then what's up with the whole dragons-you-can-ride thing? "Futasugi-san does have a passion for dragons and the interactions between humans and dragons," Spencer said. "I think you could say 'inspired by' and obviously Futatsugi-san's heritage with that franchise is an important part of his history." But Spencer still "wouldn't characterize [Project Draco] as a Panzer Dragoon game."

"I think there's some great things about the mechanic in Panzer Dragoon that can work really well, but we're not in any way trying to diminish the value of that franchise or steal from it." So we're guessing they're not going to call it "Tank Leviathoon."