Q2PS is a whole new game.. the Q2 is in there because, surprise, it's run on the Quake2 engine. It will still use the same old .md2, .bsp (with smaller limits), .sp2, but in the stead of .pcx (you can still use it though), you can use targas (tga).
What's the PS, you ask? PS stands for Pro Skater! Yes, that's right, skateboarding on Quake2! You will be able to do a variety of tricks from many skateboarding games, taking Tony Hawk's games as examples and for sound resources.
Recon will be helping me model, which is a big help. I will also be getting help from many other resources, as this would be the first standalone game I have made.
The engine itself will be changed widely aswell; The main menu will resemble better technology, using better icons and stuff.
Also, the ability to make your own skater might be available (manipulating many modelindexes to whatever model you want that is external).
You will also have a choice of many boards to go with your skater. This game would be more on the multiplayer side.. Single Player will be called "Free Skate", and also a two minute High Score session will be available.
Also, this board will have many references to myself, such as code that I can look back on, features, to-do lists, and a lot more that I will share with you in the process.
I hope that's all you needed to know for now.. if you want any more information message me or something!