A potential prequel in development, it already looks pretty close to Conduit 2 graphical quality.
Recently, Eric Nofsinger stated that High Voltage Software would likely have a Conduit 3DS demo ready for GDC. The developers have not disappointed, and I had a chance to check out the FPS's transition to the handheld. Now, Conduit 3DS is still very much in the concept stage, but good technical progress has already been made.
What I saw consisted of a tech demo where the developers ported the Conduit 2 engine and assets over from Wii to 3DS. Several environments were available, and they looked very nearly like their Conduit 2 counterparts (more on Conduit 2 to come). Already, everything was running smoothly and with great detail, and with good 3D depth. The developers are also experimenting with multiplayer possibilities.
High Voltage Software is still in the experimental phase, and controls haven't been locked down. Right now, they've implemented a scheme similar to many DS FPSes, where moving is controlled by the control pad, shooting is performed with the L button, and targeting, jumping, and weapon switching is done with the stylus (or buttons). The acknowledged problem here is that this scheme is a relatively unstable combination, especially in a high-intensity fire fight, meaning that it can be difficult to keep the system held in such a way to keep 3D in focus. This is a problem that developers and/or players are going to have to adapt to if they are to play such games in 3D, and it will be interesting to see what HVS comes up with.
The story of the game is very much up in the air, but High Voltage Software would like to explore the Conduit universe even more, and perhaps create a prequel that will fill in the backstories of some of the more mysterious characters introduced in the Wii games, the second one in particular.
Though still extremely early, Conduit 3DS looks very promising, and I can't wait to see where it leads.