Interest piqued. MHF was loosely based off MH2 though, hopefully MHFO gets a substantial reworking from the last build (3.0 iirc). Be nice if they added elements and monsters from MH3 in too, especially the swimming/underwater battling.
Given they're actually doing unique servers and segregating from the PC version (unlike FFXI or PSU), I suspect this is more than just a simple port...