I think this marks the first actual gameplay video from The Sims Medieval.  Sims-3.net posted their huge report on the game which you can read here.  (Once again, expect flaws with the translator)

The Sims: Medieval narrative skillfully combines elements of a fairy tale-inspired medieval scenario, it takes light borrowed from RPGs, is changing in many places on well-known strengths of the Sims series, and this – charge accordingly – where necessity. The balancing act of creating something new, without totally losing the reference to the Sims seems largely succeeded. Particularly visually makes The Sims: Medieval lot here and excited about the attention to detail. Only those who The Sims 3 mainly as an architecture simulation estimated with stories and a medieval setting at all to do with it knows, with The Sims: Middle Ages probably difficult to do. All other expected a well thought out and coherent Sims title that so many know to surprise certainly positive, not the expected expansion pack to The Sims 3. The Middle Ages, The Sims is not and it is also trying to not be.

preview here (with many new screens)!