This aircraft is Russia's answer to the F-22. The F-22 program was killed by the DOD earlier this year in favor of the Joint Strike Fighter program (F-35). From the video, this appears to be one hot aircraft.
According to Fox News "Putin said Friday the first batch of new fighters is set to enter an air force evaluation unit in 2013 and serial production is set to begin in 2015."
Hat Tip to Lt. Col. Mark Rose for this.