Check out this video and prepare to be blown away by the quality of the production. Traditional, hand drawn animation no less.
I don't know much about it except that it's a trailer for a film based upon Wagner's opera "Seigfreid". A musician who tours with Disney's 'Beauty and the Beast' live theatrical ensemble showed it to me today. It was animated by Pendragon Imageworks. It's astoundingly good. Watch it and you'll see what I'm talking about. You can access the topic on the AN Forums as well.