You don't think this could be another Resident Evil 4, kind of a game changer?
I don't know really, I trust him implicitly. PN03 is pretty weak, but it was practically thrown together. Any time he's put reasonable time and effort in the result has been at worst great, at best industry changing.
RE4 was a special situation, he had a great track record as a director, RE was his creation, the IP was huge, even if the game wasn't good it was going to be a hit. But more importantly RE4 was in development for a long time, but he wasn't directing it for long. He took over Summer '03, it shipped January '05.