MK Online has posted a presentation from the recent Midway Pulse press day in Los Angeles. In this video, Mortal Kombat co-creator Ed Boon details several of the new features in Mortal Kombat: Armageddon including: Create-a-Fighter, Create-a-Fatality, an improved Konquest mode featuring multi-directional simultaneous combat similar to Mortal Kombat: Shaolin Monks, an expanded Air-Kombat fighting system.

Boon also unveiled new unmentioned before Parry system that allows your character to avoid an opponent's attack, leaving them open for a "free hit" so well known in the Mortal Kombat universe. Mortal Kombat: Armageddon is scheduled for a Fall 2006 release on Sony PlayStation 2 and Microsoft Xbox.

UPDATE: The transcript from the Ed Boon interview is now available.