I would love a KotOR III by Obsidian. LucasArts is such BS, their greed and unrealistic expectations for Obsidian ruined K2's potential, and Obsidian + the fan community suffers for it.
LucasArts isn't generating games for the sake of making a good game, they're doing it because they want cash money. Seriously, an MMO over a regular RPG? How can they continue a seriously plot and story driven series with an MMO? They're whoring out the KotOR universe just like very other aspect of the Star Wars mythos, leaving originality and creativity in the dust. I want to be engaged, entertained, and enriched when I experience a story. Storytelling is an art, and every medium of that art it seems is being corrupted by greed and an ignorant demographic that doesn't understand quality.
This new "Old Republic" game's saving grace will be Bioware's involvement, and it's reception will probably be great... it's still an original idea being jerked around, manipulated and milked to death for maximum profit.