Why you shouldn't: It's being developed by Ninja Theory.
If you look at the trailer, it hints that Dante will have a all-in-one weapon, something seen in Heavenly Sword. Ninja Theory touted three different fighting styles in HS, and you could change fighting style by either holding L1 or R1. This, however, added no depth/value to the battle system, thus making HS' combat shallow. I would rather have multiple, varied weapons like in DMC3. Each being different and having their own advantages/disadvantages. While it hasn't been confirmed, it more than likely that DMC will have a similar combat to that of Heavenly Sword - slow, shallow, boring, infested with QTEs.
Ninja Theory hasn't proven they can deliver a fast-paced, deep combat like in Ninja Gaiden/Devil May Cry/Bayonetta. Let's not forget their games have framerate problems. There is a chance they can surprise me, but I'm not getting my hopes up. Also, I don't mind a Dante redesign, but this looks awful.
Ninja Gaiden 3, please don't disappoint me, and Kamiya, bring on Bayonetta 2.