Propaganda Games (the developers behind the recent Turok title) are teaming up with Disney to create Pirates of the Caribbean: Armada of the Damned Unveiled, a new open world action-RPG based on the Pirates of the Caribbean license. The story takes place before the Pirates of the Caribbean movies with an original plot where players step into the shoes of a new pirate beset with all manner of nasty enemies.

Moral choices, character building, and a supernatural world await.  Combat will be an actiony affair, while RPG mechanics will see the player leveling up over the course of the game. The ship-to-ship combat is said to be "vastly different than any other game," and economic systems are being considered. The game is in development for PC, Xbox 360 and PlayStation 3. No release date yet [via ggmania].

 
Check the screenies, they look good.