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Nephew to John Gamefreak, and Gamefreak employee J. Johnathan Gamefreak III Esq. here. Got some fresh juicy details for you all.
The 'Legends Arceus' part of the Pokemon Presents is about 8 minutes long. Two or so minutes of it is a trailer, 30 seconds is a little mini-teaser, and the rest is just analysis / talking with Ohmori and Masuda. Ohmori is directing the game, and Masuda is composing the music.
About half of the trailer is showing off a recruitment sidegame, where you do quests for people you meet on your travels, and then you can recruit them to build out the town. This is most of the game, to be honest.
Cyndaquil, Oshawott, and Rowlett are starters because of 'merchants from faraway lands'. The village elder entrusts you with one of them help document their growth.
The big Farfetch'd from the leaks is just Farfetch'd with Disciple Spirit: something you also investigate for the village elder. It's an energy tied to Arceus that causes Pokemon to temporarily get slightly bigger and stronger with very minimal appearance changes.
Those mysterious riding/flying/climbing silhouettes are loading screens. A lot of this game is just a handful of wild areas connected by quick travel.
The game has a grand total of one (1) new Pokemon: a Cosmog-esque cute Pokemon that appears mysteriously and evolves into Dialga, Palkia, or Giritina depending on actions throughout the game. The 30 second mini-teaser is just Ohmori like "Before we move on, please take a look", cut to Arceus stepping onto the Spear Pillar, and the new Pokemon cowering behind a rock before escaping.
That's all folks!