Here's what I think:
1. Banjo is being made in-house. It HAS to be big, and I would imagine it would be difficult to find a competent, big and willing enough studio to do it. If Insomniac was eyed to do Conker to see if they could do Banjo at some point, then why the rumors of Banjo E3 15?
Speaking of:
2. Conker was offered to Insomniac. Now it's on the back burner until they can find a new studio.
3. Battletoads for 2015. Downloadable game, and short development cycle. Could be a smaller team in-house, but it would also be easier to outsource than B&K.
4. VP is Rare's plan B. Rare has some work on Banjo, but if it wasn't/isn't good enough, they will end up doing VP. Don't think Rare is big enough for both.
In addition here's what I hope for the future:
1. PD becomes what Shangheist should have become; a mix between Mirror's Edge, Deus Ex and Splinter Cell(?). An FPS with upgrade systems, gadgets, interactivity, stealth and fun exotic missions.
2. Conker is touchy subject, since it hasn't aged that well in everyone's eyes. Yet, I think he can work as a contemporary parody of what gaming is. I think MS can take his icon one step further. Give him a game, sure, but make him pop up in more places than just his own game. Conker should be MSs DEADPOOL.
3. A new Kameo at some point. I kinda dug that game, and the shapeshifting had great potential. A new typical Rare IP would also be very welcome.