Asriel on 26 April 2009
I agree with the general consensus here; it was in development at some point but hasn't yet seen the light of day. It might not see a release as a Wii titles or Kid Icarus title, but if Miyamoto was in anyway involved (as General Manager of Nintendo, I expect he was) then the ideas used in the game or being floated around for the game will definitely resurface in some way, shape or form. Whether that's as a Kid Icarus revival in the future or in the next Zelda/Mario whatever, I don't know.
I'd be pleasantly surprised if it did turn up, though. Nintendo don't like to waste development time/money/resources, so I think a release is definitely possible, just not very likely.
