This actually sounds a lot more like XCom:Genesis, the canceled game they were working on before Microprose folded. In case anyone missed it, xcom.com includes some more info not in the IGN article. Of note, in battlescape inventory manipulationn seems to be in, as well as what sounds like map generation being based on geoscape terrain.
Should be interesting to see how Xcom being on the offense changes up the dynamic of the geoscape, reminds me a bit of Jagged Alliance.
I'm very excited about the modding tools; considering that the Long War folks were able to jury rig a geoscape system that in ways rivaled or exceeded the original in complexity with nothing more than hex editing, I can't wait to people can cook up with real tools.