Xbox 360 and PlayStation 3 seem likely release platforms as the only "HD consoles," a requirement Ubisoft seeks "because the game already runs in this incredible image format and this really highlights the artist's work." The company does, however, note that "This doesn't prevent us from thinking about other consoles but we are a small team so we need to set priorities."
As for going episodic, Ubisoft explains it's so the small team can release this year and that "Episodes also let us imagine a longer and more developed saga than with a more 'classical' format." It also notes "there is a golden rule: the size of each episode and its replayability must be important enough to make the players feel... fulfilled."
Developed under the loving gaze of Ancel himself, the first Rayman Origins episode is heading to unconfirmed platforms for an unknown price some time this year.
I don't care if the gameplay sucks (I don't expect it to), but that is just just just beautiful. I love this toon style - effectively dropping us back to spirit-based animation but at so much more detail and fluidity to make it look wonderful to watch. Critter Crunch did this aspect great as well.