Tetsuya Mizuguchi sat down for an interview with Eurogamer, and out came the skinny concerning a new generation of sound and visuals. I'm talking about Rez, of course. When specifically asked about a new iteration, he said, "I'm currently seriously considering it. It's always there."
The unique original for PlayStation 2 was well received, so it only makes sense that an even better sequel for PS3 would garner even more acclaim. And let's not forget all the cool applications we could see with the new controller for a game like Rez. Just remember not to swallow your tongue or anything if you're susceptible to seizures.