Well, here's some big news that came out of nowhere. Nintendo has announced that Masahiro Sakurai has started a new project. Yeah, you know the guy...he's the one that started that little series called Smash Bros.. What's the new title that Sakurai is working on? You know Nintendo isn't going to tell us that one. We'll have to hang tight and speculate endlessly until Nintendo decides to trickle-feed us info.

UPDATE - Looks like this is all part of a new company that works under Nintendo, Project Sora You can check out the official page here. Project Sora is a first-party company for Nintendo, and they're working on a new title at this time.

UPDATE 2 - Iwata has confirmed that the current project that that Project Sora is working on is not a new Smash Bros.. "It's not Smash Bros. I asked for. ...I can promise an experience that's different from anything [you've played] up until now."

You can also check out the 'Iwata Asks' interview here (Japanese)

Nintendo PR here