It's pretty much common knowledge down here in *insert big third party everyone hates name here* territory that Geist 2 has been top priority over at N Space. It is supposedly going to be the first big FPS/Adventure to make use of the new Rev control. That's the talk around the campfire, and has been since E3 last year. Of course, it's all off the record stuff, and someone could get fired for mentioning the wrong tidbits.
Another rumor that has me smiling is that there is a first person dungeon crawler, ala those old Ultima/Wizardry games being developed by N Space, to take advantage of the Rev controls, as well. That could be BS, though it has me intrigued.