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Full ecosystem, with predators and prey.
40 different types of animals.
All animals can be killed. Some can be skinned, and the skins can be sold
Can play Five-Finger Fillet (the game where you stab a knife between your fingers as fast as you can)
Can lasso wild horses, break them and saddle them
Area is said to be the company's biggest environment (bigger than San Andreas), with three regions: Prairies, desert and mountains.
Day-and-Night cycle, weather changes and seasons
Animals will attack you and NPCs
Hundreds upon hundreds of random scenarios involving NPCs, creating a living world. One was described as "NPC robs a man, then gets pounced by mountain lion." Another is "Man sticks up another man with a gun, bear comes through and eats him."
Every building can be entered
Loads of side-missions and random events, including ambushes and people asking for favours
Can enter NPC's houses, kill them and steal their loot
Any weapons you're armed with will be shown on your skin. If you're carrying a knife it will be seen strapped to your belt, etc.
Can ride horseback. Use spurs to increase speed, but if you use them too much the horse will buck you.
Carriages and trains make up fast-travel. You can experience it in real time or "take a nap" and wake up at your destination for instant travel.
NPC's will rally together a posse to bring you down if you commit a nefarious act, though it's not exactly a wnated system
As your wanted level increases so does your fame. Pedestrians will warn each other to give you a wide berth.
Even if you manage to wipe out a town it'll repopulate in 2 or 3 in-game days.
It will have online multiplayer, said to be "Players charging around on horses and stagecoaches and trains, shooting each other".
Main story missions are said to be slightly fewer in number than a GTA game, but longer
Aside from using the lasso on animals, you can use it on people, to capture and hog tie them,which is useful for collecting bounties.
If you try and tame a horse and don't do it successsfuly, the horse can drag you off.
Guns will have realistic accuracy.
"Deadeye mode", which allows you to drop into slow-mo for targetting, and later on paint targets you want to hit, then go back into real-time and automatically fire off those shots. Sounds kind of like V.A.T.S.
Cover system for gunplay similar to GTA IV
Uses the Rockstar RAGE engine as well as Euphoria
Vultures can come and eat at the bodies of your fallen foes