There's a bit of overlap footage from the search and one other video, but this is mostly new material. This video shows progress in a number of new areas, most noticeably the addition of dynamic water, next gen lighting (in the apartment scene) , and giant robots. Also of note are the inclusion of tier 3 and tier 2 characters. Tier 1 characters will likely be the focus of the next reel after Christmas vacation. For those who want to understand the 3 types, 3's are for distance only like crowd people. 2's are background characters that are more detailed but don't talk, and 1's are the main story characters that act and talk via motion control rigging. The robots here are technically type 1 characters, but they don't talk or have complex animations yet. Realistic human puppet actors are the final base challenge, and will be complete soon. Probably just a few months before SP can begin early stage production.
Other than a few seconds taken from "The Search" none of this footage is representative of final product quality expectations.