I'm with Luigi Dude on this, I think it will show up at E3 in one form or another.
It will go back to being more of an on-rails game and people will complain about the on-rails part of it.
I'm with Stratos on this one. People will complain that it has online vs modes but not online co-op. Or they'll complain that it should be a giant space MMO game and other things that will push it as far away from a standard Star Fox game then ever.
To be honest, i'd be happy with either of these two outcomes:
a. A game on par with Star Fox 64
b. A game that borrows from Star Fox: Assault, but with Star Fox 64 quality.
Thats right. I actually didn't mind all the runnin' and gunnin'. The part i did mind was that it took precedent over piloting an Arwing.
A good Star Fox game would find a way to balance it all out.
I mean Star Fox 64, the game heralded as being the best in the series, introduced us to the LANDMASTER!, and its multiplayer had Star Fox Team on foot with blasters, so i've always hated the argument that those didn't "feel" like Star Fox or just didn't FIT. Hell those familiar with SF2 know that even it had vehicles other than Arwings and also had "all-range mode" levels, so it all fits.
I know i've mentioned this before, but i'd even be happy with a compromise that kept on-foot missions but made them on rails. It'd keep the controls from being clunky and would still have some (slight) diversity in gameplay.