Game Informer magazine just had a very positive 1st impression of the game. They said that the graphics push the capabilities of the Wii, and that the gameplay was equally as impressive. They said the controllers schemes worked very well and that everything seemed to run smoothly.
If Ubisoft leaves a possible gem like this to die, just to prove a point that Wii games don't sell, then I will never buy an Ubisoft game ever again.
Even if Ubisoft leaves this game to die, I think it still has a chance to break a million.
Activision left Modern Warfare Reflex to die, and that game actually should sell well past a million.
I think Red Steel 2 should have broad popularity as there just aren't many games of this quality on the Wii. I expect it to do 500K in a worst case scenario. If word of mouth catches this game then this game can sell a million or more. It all just depends on how much Ubisoft markets, and how much the general public responds.
Most anticipated games of 2011:
Uncharted 3,Legend of Zelda: Skyward Sword, Rocksmith
Modern Warfare 3, Super Mario 3D