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oh the other thing you need to take into consideration is that the previous banjo games did very well in japan and also have a big following there.

 

see the crowd below? they were watching the trailer for Banjo Kazooie 3!!

read the story in Kotaku:

http://kotaku.com/5062274/this-is-what-those-guys-were-watching

 

But even on japanese "inside xbox" there is an interview with the Rare developer staff about the upcoming Banjo game in english with japanese subtitles.