Well I am currently doing a replay of the two Baten Kaitos games and I decided that I would see if there was any glimmer of hope for a third title in the amazing series. Well I happened to stumble across this.http://palgn.com.au/nintendo-wii/19205/monolith-soft-art-for-new-project/http://batenkaitos.wikia.com/wiki/Baten_Kaitos_Wiki
While both news updates are a bit old, and it doesn't directly say Baten Kaitos, that concept art that they showed off definitely has it written all over it. I would be extremely happy if this managed to see a release as it is easily my second favorite series of all time (Chrono series is my first).
So here is hoping for some more news about this soon, they are only just now hiring for the game so it could still be quite some time away. I hope that they keep the pre-rendered backgrounds and do a fusion of the battle system of the first and second games. I also wouldn't mind more cgi movies, or at least full 3-d battlefield style movies that are more cinematic style.