This is fantastic news. If Ron Gilbert hadn't been on board - but yeah, he is. (I guess Orson Scott Card won't be providing any of the duelling banter this time round, considering his...somewhat-altered credibility these days.)
Considering the huge surge in popularity for retro-style gaming recently, the grainy Quake-type FPS shooters and pixel-art games, I've been surprised there hasn't been a similar upwelling of traditional adventure games - not just the Monkey Island type (there have been a few of those, but no megahits?) but also the old text adventure games. Is anyone trying to do an Infocom-like out there, or an evolution of it, in a somewhat mainstreamy way?