(maybe) not getting a Skies of Arcadia sequel, Wind of Nostalgia sounds like the next best thing. In fact, it sounds like the same thing, only instead of air pirates, you're ... Londoners. Even with that not-as-cool difference, the gameplay of this RPG includes both dungeons and air battles, just like Skies. Interestingly, though, the setting for Wind is in the 19th century -- you don't usually associate the 1800s and air ships together, not that we're complaining.
IGN pointed out another interesting detail that has us salivating over this new IP. Not only is Matrix (think the Final Fantasy III and IV DS remakes) working on the project, as we knew, but also the producer is Keisuke Kikuchi of Fatal Frame fame. asdlfjasdlkjfa -- oh excuse us there, we were just wiping drool off the keyboard.