No they won't bring back the GameBoy brand. Its wishful thinking but with NGP out now Nintendo would have to sink incredible amounts of money into R&D to develop a new GameBoy. Also that GameBoy would cannabilize the 3DS taking away market share. Nintendo would then have to worry about selling both platforms simultaniously.
Why did Nintendo call the GameBoy line a third pillar? Their are a few
#1. To keep GameBoy Advance sales going. If Nintendo told everyone they were abandoning ship sales would have flat lined. Nintendo wanted to see consumers continue to buy the GBA:Mirco and SP.
#2. A fail safe. If Nintendo DS had failed to generate market share Nintendo could pull the plug and release a GameBoy. I have no doubt that Nintendo probably had a prototype GameBoy already built incase said failure occured.
#. To re-assure third parties that they would continue selling GameBoy hardware and thus keep software coming out for it. Incase the DS failed and Nintendo had to fall back on the GBA until their next GameBoy was ready.
Fact is Nintendo was prepared for the failure of the DS, they were taking a risk but they did not want to leave themselves high and dry. The GameBoy line was a safety net. It is no longer needed now that the DS was so successful. The 3DS will also be successful preventing any future GameBoy from being brought to the market.
-JC7
"In God We Trust - In Games We Play " - Joel Reimer







