The main trailer was a target render, that's for sure (i recall them saying that and... it's noticeable), but the battle trailer was real-time, right?
Although that doesn't mean that the game is advanced at all (i want to believe their words, though), since it's a (big) closed and controlled zone and it wasn't played live.
Anyway, even if they were having these problems, I can't believe they wouldn't be able to make, in a whole year, a 2 minutes trailer showing pre-rendered cutscenes and portions of gameplay, and unfortunately, people (me included) would be satisfied with that, so it would be pretty silly. But again, it's S-E.