Now we know for sure this is an actual game. The screenshots and videos featured on the site seem to be things you'd have already been exposed to, but it's pretty much all worth it for the paper mache version of the Double Fine logo. Unless that's old news too.
Bit of trivia: The site's only been up for hours, which means that it's roughly on par with the sum total of Mixnmojo's uptime since 1997. Thank you! Thank you!
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Source: Grim Fandango