Update: Screen grab, courtesy of video from Nintendo's Japanese site here. It looks awesome!
Yes, you read that correctly: Nintendo is reviving the old franchise in an all-new title for Wii. We have no more details than that at this point, other than oh my god it's a new Punch-Out!! But, as soon as more is revealed, we'll let you know.
Maybe it'll be like our re-imagining of the game for Wii?