Just out of curiosity, is there some improtance to the IP? Why was it kept alive for so long ?
I honestly have no idea myself the game started development at the end of 2004 and was announced at e3 2005. They then demoed the game throughout the year targeting a launch of Summer 2006. Of course the PS3 got delayed till Holiday 2006 so the game was pushed into 2007.
Then we never heard of it again. The official word was that it was delayed and was still in development. In 2010 it was announced Team Ninja were now developing the game (was originally Koei/omega force) and recently last year I spoke to someone who said the project had moved to PS4 and was still alive.
This year, the founder of Koei said the game was still in development and he hoped to show it this year. (The game had become somewhat of a running joke for koei fans that they'd announce it every year).
Finally was announced yesterday!
And yes, as mentioned above, it was in famitsu's most wanted game list forever.