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Actually, I know my fair share about game development... Fact of the matter is the whole thing STILL smells like a team who bit off more than they can chew and are living off of early hype.    Yes games are sometimes announced before they are out of concept stage, but here we are two years later and they still haven't shown anything but concept shots(and one shot supposedly 'in-game' although we have to take THEIR word on it).  At the very best, they announced WAY to early, at the very worst they are trying to scam investor money.

Frankly, they should have finished Raid over the River and then moved on to Sadness..  It would have proven that they know their stuff and potentially got them more funding.  I also have my doubts that they have official Wii and DS devkits.

If they can't get an overhead shooter finsihed for the DS, I have my doubts they can pull a stylized gothic horror game off on the Wii.