http://www.youtube.com/watch?v=MlF4UHOB3Ts&feature=relatedMustang looks pretty ugly. >_>
Anyways, I think it's pretty safe to assume it's based off of the manga.
FMA Anime spoilers
Colonel Mustang still has his eye, and Al is still in a metal suit. Unless something random happens, then I doubt it'll be any continuation of the manga.
