Take a long, careful look at this shot. Everything you see was drawn by hand. Everything. That's absolutely astonishing. Expect to see Hayao Miyazaki and Ghibli's artists flexing their muscles all throughout Ponyo. This is animation film that celebrates the medium. It's a celebration of the skills and traditions mastered over a century, before computers took over everything. Don't kid yourself. This will be an unspoken theme of the movie.
This should also provide a very interesting contrast against Disney's upcoming 2D animation movie The Princess and the Frog....yawn.