Fenton, that's exactly right. When it comes to Max you can make those anims from predesigned skeletons, save them as anims then use the plugin(Model Exporter) to bring together the creature model which automatically animates on the skeletons animation. In the video you may have recognized that specific anim, and Lionhead are making this anim to add to the game(in its development) and with Max being so good any model that is placed over that skeleton, will do the exact movement that you created.
As I am saying this, the exporter is under way and its coming along nicely. Rodzilla is making it and is having some trouble but has managed to get something out of it so far. Once this plugin is released for Max and Blender, people will be able to go out and model new creatures with some animations included and bring them into the game.
But at this stage, it is a one step at a time thing. If Rodzilla produces a working basic exporter then I will think about creating some new creatures for the game which will take a very long time. Sam7557 that would become a spectacular thing to use.
No promises at this stage though, if something comes up that will push my opinion then I will inform the community and reassure them of how progress goes.