I want The Grinder FPS that we were shown and The Grinder "hunter" style game too.
HVS could be known for being the Nintendo FPS machine and once they are known for having good--->great FPS games under their belt, then all they have to do is keep up the quality.
The Conduit wasn't what everyone was hoping, but The Grinder seemed to be addressing some if not all of those issues (local multi, a little less generic, motion plus support) and it was gonna be more Grindhouse with Classic horror monsters, so there was no going wrong there. The conduit 2 (which would likely come out after The Grinder) could use the tweaks to the engine they made to allow 2-4 player local multi and simultaneous multi-online play and everyone would have been happy.
Of course this would of course be followed up with The Grinder "Hunter" sequel version released on all 3 consoles and add some variety to an already known (on the Wii) franchise.
I see nothing but a winning strategy here, I hope HVS is listening.