The day I play Brütal Legend 2 my life will be complete. Sadly I'm not so sure it's going to happen. Not if you consider how long it takes for Double fine to release their games - it's sad to say it, but to say that Ozzy for example will still be around and kicking seven years from now is pretty optimistic. If they want to do it properly, they have to speed things up. Not to mention how ridiculously hard it must be to make all the famous folks join in the making.
Anyways, I'm pretty sure they could pull it off if they wanted to. It's not like they don't have the material - they left masterly subtle hints that were easily overlooked but never really answered, like what exactly Ophelia hoped her parents were wrong about(as far as I know she was talking about Eddie, and they weren't around when he arrived) or when emperor Forkhead mentions that Succoria was supposed to SPY on the humans, something that, as far as I know, was never mentioned again. Or WHERE THE F* Mangus popped out from. Then again, I might just be missing some obvious facts here. Wouldn't be the first time >.> The prequel/sequel debate though, I find pretty annoying. The main character owns a TIME TRAVELING BELT BUCKLE. The OBVIOUS solution would be Eddie going on with his life in the age of Metal until like halfway through the game when he gets teleported back to the time of the first black tear rebellion, messing with peoples heads, f*ing up the course of history, become his own father or whatever. I don't care HOW they do it, but they will probably have to do both to pull it off properly. Best of both worlds! Yay!