Interesting. I loved M&M, at least I played M&M 6&7, I think I managed to get 7 running on Windows 7, however, the frame rate was ridiculously high

. Ideally, I would like to see a modernised M&M that's true to M&M. But, we know that isn't going to happen, but at least there's a couple of indie titles inspired by the series and similar titles (including Sword of Akhranox)
I suspect it's more likely going to go down the route of Skyrim, but in the M&M world setting, which to be honest, wouldn't be so much of a bad thing, because at least then they can try to please M&M fans with that model, because they've got the large world exploration present in MM and there were plenty of similarities between the gameplay of Daggerfall and MM, but still managed to make the world their own.
I think Far Cry is the less likely option, but I think it's definitely something they can ruin by trying to go for the more used models of game making, but I am not envisioning a typical FPS title but in a fantasy setting with magic. If they do, well then, for shame.