The May 2009 issue of Nintendo Power's "Next Month" page says:
"We've got a lot of great stuff lined up for the June issue, including a heavy-hitting review of Punch-Outt!!, a special report on Mario & Sonic at the Olympic Games, and a first look at one of the year's biggest action games for Wii. See you in 30!"
The background of the page is a huge katana pointed toward the ground. It looks extremely similar to the katana on the cover of Red Steel.
The game is rumored to be revealed soon, so it wouldn't surprise me much. Seems like a given that it would have Motion+support. Any other ideas on what this could be? I can't think of anything else.







