As awful as the trailer is, I actually think Sonic's design is not really the worst thing about it. If the body was better proportioned and he had less human teeth, I think the facial design would probably look fine.
In other Sonic news, I've had Gangsta's Paradise stuck in my head all day, even though I only watched the trailer a few times in a row, which makes me angry because I now can't not associate it with Sonic saying 'Meow?' and James Marsden pretending to have kidnapped a child and Jim Carrey thinks the guy from Band of Brothers is basic.
That said, on my 29th viewing, I noticed the subtle implication that this is a prequel to Battlestar Galactica, which makes me a bit more interested.