In what could be construed as the first combination of various Square and Enix titles, but probably isn't, Enix has revealed it has commenced development on a new PlayStation 2 action RPG, which it is has named Dragon Lagoon. It is doubtful the game is related to either Bahamut Lagoon or the Dragon Warrior series.
Little information is currently available about Dragon Lagoon, other than the game world, which will apparently chronicle the battles between people living both upon floating islands, a la Skies of Arcadia, and the ground dwellers below. With no other details forthcoming at this point, it likely won't be too long before Enix tosses out a few more scraps for the gaming public, so expect RPGamer to bring you the goods on Dragon Lagoon as they surface.
Currently, no planned release date has been made public. Enix has also not given any word on whether the game will reach North America.