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I wouldn't be surprised at all, after all this rumor is so vague that it could apply to anything ...

A new IP wouldn't be surprising at all being that Monolith or Retro could be working on a new (unknown project), Nintendo could have bought just about any small developer with their pocket change, and Nintendo has a pretty decent track record of creating new IPs through internal development; Nintendo could even be working on a joint venture with (pretty much) any major third party publisher to create a new IP for the Wii, after all that is how Final Fantasy: Crystal Chronicles was created for the Gamecube.