As for the game world, Borderlands features a system that randomly instances the surrounding landscape, with randomly placed things such as bunkers, towers, caves, enemies, and exploding cacti. All of this is done without a loading screen. Gearbox claims that the player will not see a loading screen after they boot up the game, although this proved to be false; players will see them when changing areas. Core areas, such as towns, will remain the same throughout the game, as will the general paths that connect town to town.

I havn't yet seen the RPG component of this game.. I hate rpg's but the fps component looks good.

with randomly placed things such as bunkers, towers, caves, enemies, and exploding cacti

the rpg element can be summed up pretty easily...
each class has a special move..
that move can be leveled.. so to speak...
for example.. roland has a turret with a small shield that you can drop during fights..
you can make the turret do more damage.. pulse an area of effect heal and an area of effect replenish amo after leveling the shield up some you get options to give it rockets and so forth.

Is this something that you can keep playing and playing playing, like typical rpg style game..

doesn't seem much different than say the Engy in TF2, is that game an fps+rpg?

with randomly placed things such as bunkers, towers, caves, enemies, and exploding cacti

Has anyone come across any procedurally generated environments?