Looney Tunes 3D Version of 2D Cartoon Done Right

I always shudder when I hear that there are movements to bring traditionally 2-dimensional cartoon characters into 3D. I don't mean the crappy 3D where you have to where glasses and you find yourself reaching out to grab stuff like an idiot; I mean 3D rendered computer animation as per The Incredibles, Finding Nemo, etc. The following video is an example of how it can be done just right. The action, direction, colors, lighting, and character design all still feel like the old 2D versions of the Coyote and Road Runner cartoons with a new wrapping. I can certainly get behind something like this.

EDIT: Warner Bros. is pulling the video as fast as it can go up. I tried another link but that went down PDQ. Just do a Google search for "Looney Tunes 3D Coyote Falls" and you should be able to find a quick clip here and there. The Vimeo link was awesome as it was in HD (the currently available YouTube copy is not and the video severely suffers for it). Oh, well.