article entitled "The 5 Biggest Games Coming to Xbox 360 That 'The Man' Doesn't Want You to Know About Yet" that has some interesting tidbits about Crimson Skies. Apparently a sharp-eyed reader (or sly tip-off artist) noticed that the company website for Airtight Games lists a lot of ex-Crimson Skies: High Road to Revenge developers on their site in the bio section, and they are pretty upfront about touting the fact that they are working on a major, unannounced game.
Couple that with some of their PhysX demonstration videos, and it looks like they're probably working on a sequel to High Road to Revenge. Although the Xbox title didn't sell too well, we had tons of fun playing both the single-player and online multiplayer versions of this. The whole alternate history of the United States and the swashbuckling attitude made it fun, and those flying physics were pretty darn cool, even way back then in, er ... 2003.
[Update: Appended a more explicit headline!]
[Via Xbox 360 Fanboy]