Red Steel franchise is dead, unfortunately.
But I would consider another spiritual sequel, more live in the veins of Red Steel 1. I like better the setting of RS1 than RS2.
Supporting both gamepad and wiimotion plus. With different class for each type of control
Wiimotion plus: samurai pistol cross sword
gamepad: max payne 3 like with bullet time and touching enemies on the gamepad's mapscreen for quick shooting and wall climbing.
The game would be called:
Guns, swords, boobs ans special effects.