Microsoft has let fly with a new trailer (and a couple of screens) for Ninja Gaiden 2. SPOnG has the blood-soaked goods below.

"Blood soaked?" you ask. Yup. If you needed any further proof that few things make the red stuff spurt forth from folk (and assorted monsters) like Ryu's sword, it's in the trailer below. It's so bloody that when Ryu finally sheathes his sword after 53 seconds of slicing and dicing, it squelches.

The other good news is it's all in-game footage. It looks like the 360-exclusive hack-'n'-slash is shaping up nicely, we're happy to report.

Anyway, cast your eyes downwards for the goods.