Yeah, I heard about this quite a few weeks ago. Needless to say, it's pretty awesome.
Here's the super-hot FMV trailer with VOICE ACTING in case anyone is interested.
Casting is also going on in Japan to find a vocalist for 'Theme of Love'. It's also likely that voice acting will compliment some story sequences.
Edit: Terra is 18, and I don't think Cecil is much older. The problem with alot of the older games (pre-V) is that there weren't many official sources to give ages of all the characters and such, other than Japanese publications. But I'd put Cecil in his early twenties.