There's a fair amount of risk here as the brand has taken huge hits the last few years, especially with the cancellation of NBA Elite 11, but I have to admit I'm still looking for the silver lining and with all the time they'll have to develop the next game, hopefully the results will be pleasing. As Jon said, two straight years without an alternative to NBA 2K for people who aren't completely satisfied with it or have preferred NBA Live's controls or whatever might help create a demand and anticipation for a new EA sim-oriented basketball title and allow them to burst back onto the scene. I'm certainly hoping that happens, I believe two strong titles is much better for everyone (including the developers).
With an NBA lockout looming, it might not be such a bad idea either. Whatever NBA 2K12 might bring to the table in terms of its gameplay and features - and don't get me wrong, I expect it'll be impressive in that regard - its appeal might greatly be affected if the season (or part thereof) is lost due to a lockout. If NBA Live 99 is anything to go by, we'll basically be replaying the 2010/2011 season in an updated game, or any previous seasons we care to create patches for.
In any case, it's nice to get an update on the status of the series. Seems we've got plenty of time to collect signatures for our PC Petition and work on our Wishlist materials.
