As expected, Ubisoft's showing at E3 featured a significant section on the upcoming Assassin's Creed 3, opening with the latest trailer.
Now, the trailer shown wasn't exactly new and most fans of the series will have had the opportunity to see this by now, however we were treated with some gameplay footage and this was by far the most interesting aspect of the presentation.

In the gameplay trailer we saw our hero Assassin, who has already been named as Connor Kenway, in an open expanse of snow covered forest. The free-running we are used to seeing across the rooftops appears to have been neatly transferred to treetops and long branches and Connor seems to navigate this new land with grace and ease.
We also saw some wildlife featured in this footage, beginning with deer running through the forest and also including a scene where Connor is attacked by a pack of wolves, which he fends off with a gun and knife.

Later, the Assassin is seen walking through deep snow which covers his legs and appears to slow him down somewhat, indicating that environmental factors will be a consideration.
Moreover, we got to see the combat system in action, and this was for the most part traditional Assassin's Creed fare. Connor dodges and attacks with speed and precision, defeating a group of soldiers with ease. While the system appears familiar, some new weapons are showcased here. The Assassin's primary weapon appears to be a Tomahawk. We also see him using a grappling rope to suspend a soldier from a tree branch (very much like Batman in Arkham Asylum/City) and a bow and arrow also features.

All in all, the gameplay shown looks very similar to that which will be familiar to fans of the Assassin's Creed franchise, with subtle refinements rather than sweeping changes.
The developers reveal that the game will span a 30 year time-span before, during and after the American War of Independence and that Connor will be battling enemies on both sides of the conflict, in all seasons and in a variety of locations from cities to the wilderness.
Assassin's Creed 3 is set for release in October 2012.