First thing you see is lumberjack Kirito. He and his buddy Eugeo have the "task" of cutting down the Gigas Cedar. The village has been working on it for around 300+ years, and they're only about a quarter of the way through the giant tree. They're using the dragon bone axe to chop it down. It's a fairly hard axe, but doesn't have that high of a user level. Not like the blue rose sword that Eugene found in the cave. However, only Integrity Knights have the power to control a level 45 weapon.
The village that they show appears to be the small village of Rulid, located in the far north east of Norlangarth's northern empire. That's the in-game name for the Underworld.
Virtual World created by the soul translator is a project of a company called Rath. They created a "new" full dive type of system as a way to create indistinguishable AI's. There's more to it than that, but that's enough.
It's still a virtual world, and everything has a durability. Food and water have a small durability. When it reaches zero, it goes bad.
Sword Skills from SAO still exist in this world. At least in some manor.
The girl that's being lifted away is Alice Zuberg. She's the primary motivating factor for Kirito and Eugeo to begin their quest.
That trailer is pretty good. It doesn't really show you any spoilers, and all of what's shown will take place in the first 3 episodes of the new series.