Well apparently it does exist again. And it's running on "the most powerful engine available for Wii" (I keep quoting that to build up your hopes so you'll be more disappointed when it's announced the game is canned; again).
Official Nintendo Magazine report:
Sadness is the first Wii game to be presented in black & white which will no doubt add to the atmosphere of this crime-noir adventure set prior to the outbreak of World War I. For this unique, atmospheric adult-themed game, Nibris needed something special and Tomasz Wisniowski, Project Manager of Nibris, reckons he's found it with Gamebryo: "We will have quite a few graphical effects in our game, which some believe are impossible to attain on the Wii. Gamebryo helped make it possible. We are firmly convinced we made the right choice."
So it's gonna be innovative, look gorgeous and generally change the world right?
Geoffrey Selzer, CEO of Emergent (the producers of the Gamebryo engine) says the new horror game "is designed to push the bounds of Wii technically and creatively."
How come no one knows anything about it then?