what ever we think Rare and Zoonami are doing or not doing, there will be a BIG blowout of Rareware info at E3.
M$ aren't allowing Rare to show anything, cause they want EVERYTHING to be a surprise.
And even though I believe Perfect Dark (wow, haven't typed that name in a long time) is going to Nint...sorry, Xbox, just ONE concept art of Joanna (haven't typed that name in a long time either) doesn't really convince me, so i think joeamis has a valid point.
Zoonami HAVEN'T confirmed that they are NOT working on a FPS title, only that their Game Zero game isn't an FPS. So an FPS title (perhaps in the mould of PD) can be in the pipeline in theory. And if what Mario 'remembers' is true, then a PD game on Gamecube 'might' be possible. So Mario, get some sources and quotes, cause you seem to be adept at doing these things - digging out the impossible.
All this though, is highly unlikely. I warn everyone to tread with caution. This is a one second fuse bomb of a thread.