For ages, I've kept hearing about Iwata mentioning a 3D Donkey Kong adventure game being developed for the Wii. I believe it was stated in 2005, according to these reports. I see it referenced all the time. But I've never seen a source for it.

Can anyone answer me? Was this project ever real? And if it is, do you think it's still going on?

Iwata made the announcement at TGS 2005 one of the few times Nintendo has actually been involved in TGS. He made it saying that a new Mario , Zelda and Donkey Kong game were in the works for the Wii. This was before Barrel Blast was ported and before LOZ:TP was announced. I can't give you a source as I watched it Live on G4TechTV.

Well who knows.. it'd be nice to see EAD Tokyo give a fully fledged 3D Donkey Kong platformer a shot. They've shown that they are very capable platformer devs and they also captured the essence of DK pretty well with Jungle Beat.

i dont see it being in production, theres no one to make it.

Well you surely can't count on that 2005 quote anymore, that is just too long ago. My guess is that IF the game is in development, it'll be made by some outside studio like Retro and not by EAD, so it will be interesting to see the next announcements by studios like Retro, Monolith or NST.