Seeing as they have confirmed that they are taking good looks at "industry standards" it's probably safe to say we'll see both 1st and 3rd person views. There's far to many people out there that are hell-bent on 3rd person these days that gamesas would probably do massive damage to their release if they only featured 1st person.
FO will use the Earthrise engine: http://www.youtube.com/watch?v=bbTgqB99cQI It will barely differs much. Excuse my bad English... I am a Russian bear, it's hard to type with claws.