Paradox has released a game trailer and developer interview for the upcoming Magna Mundi. I know many Europa Universalis fans who cannot wait for this title. Here is a trailer with some gameplay video.
Here is an interview with one of the Magna Mundi developers about the battle engine.
If you want to know much more detailed information about this title, you should take a look through the developer diaries. They provide tons of information. Still no word on an official release date.