Everyone keep in mind that Capcom has said that RE:Zero is an evoled form of the game, with features such as real time switching among the characters (ala Munch\'s Odyessy) and a couple other things. I think they compared it most to the old game "Sweet Home". They also said RE4 would take awhile due to the fact it is being completely redone and be a total rework of the RE series.
Terry, the graphics are indeed pre-rendered. They are using the same engine they used for RE:Rebirth. Which means, the backgrounds are pre-rendered with animated movies for the lighting and what not.