We knew it was coming, today THQ gave it a name: Tetris Evolution. While it seemingly would fit just fine on Xbox Live Arcade, Evolution appears to be a boxed-retail release (listed on Gamefly); currently scheduled for March. Expect traditional Tetrimino-dropping along with new modes, headlined by "Go Low" and "Eraser" -- 4-player Xbox Live support too.
True to its name, Evolution will build on recent puzzler trends (see Lumines) and feature customizable themes, skins, icons, and music. More than a dozen "HD" background videos will be available to distract your high-score efforts. Whatever, just as long as it's budget-priced.