I think the Grinder from HVS is fucked now.
The next CoD7 will be the game after the sucessfull Mordern Warfare Reflex.
The Grinder will be next game after The Conduit, the game that didn't delivered the expected sales and quality and "bombed".
I don't know how HVS is going to launch an FPS with CoD pretty much monopolizing Wii's FPS market. That's just Kamikaze.