The plot, without giving too much away, would recap the beginning of John 117. There will be a number of flashbacks to show his early stages, and introduction to various elements we're so familiar with today (Cortana, the Covenant, other Spartans, the Mark V armor, etc.). The ending would lead us right up to the beginning of Halo: CE.
I am considering having two other directors, cinematographers, etc. work on shooting another two short pitch trailers, which would be different than this but still put the cast and props we get in to good use- might as well make the best of them.
Santicity, Cortana will be shown in full body, as well as tight shots. I think you guys (and girls) will really enjoy how we piece her together, if everything goes well. The video you watched above isn't much as to how the real Cortana will look like. The effects will be similar, but we'll be casting a different actress for this part. Again, I do have to stress that the video was quickly pieced together as a rough edit to get feedback.