Neither Todd nor Pete claimed that everything was in-game. In fact one of them specifically stated that the flying scenes along with 'the wall' are not in-game footage, but the dragon battle is.
Well no [censored] sherlock, do people really need developers to come and tell them this stuff? Wasn't it obvious?
It's amazing that so many people do not have the ability to distinguish exterior rendered CG from in-game rendered and gameplay.
Here, take this for example, a lot of you must be familiar with the GTAIV video editor
http://www.youtube.com/watch?v=rJbOQ7KJl_k&feature=relmfu
As I said, the game records positional data of NPCs, and then scenes you just played are re-created by the game platform, and you can fly around with camera to record footage. It's hardly new technology,t his has been around since the days of Half Life and Quake 1. Thats all this is. It's gameplay, just as that video I posted is gameplay, the only difference is that cameras have been moved to record it in a cinematic fashion. It's likely that this trailer was done in a similar fashion, so yes, rest assured that it is most likely gameplay.