KOTOR2 was almost worth the purchase price for HK47s impersonations of Carth & Bastila.
If GOG ever get it, I'll buy it immediately just to see what team gizka's mod has done to it

I wouldn't hold my breath if i were you. There is a huge topic on Obsidian board about the whole restoration project. Many people on that board believe that team gizka's project is just a big hoax and it's never gonna be realased. To tell you the truth mate I don't believe it either. Nothing happens with this mod since 2007 and the tag line: "it's gonna be realased when it's done" doesn't exactly make me feel confident about the whole thing.
Well I don't care about the mod anyway. I recently bought both KotOR 2 from game.co.uk and and i'm chained to the computer.

Maybe I don't know the name is kinda stupid but I'm going to wait till it comes out before I past judgment on it.

I'm cautiously optimistic about this one. Letting another company have a go at the series is refreshing to see.
Personally I would much rather see the series taken to an entirely different country but this could work as well.

Im looking forward to it, I have been playing fallout 1&2 since their early release still have the cd's in good condition. My persnonall treasure.
Even tho fallout 3 isnt what fallout should be I still enjoyed the game and playing operation anchorage atm.
So yes im optimistic about it. I hope they stick to some real fallout lore in that area. So im keeping my fingers crossed.

Anxious, eagerly waiting, but cautious. The whole project sounds nice, but will have to wait and see how it turns out.

I'm personally a little sceptical about the good folks at Obsidian. There can be no question about the fact that they did some good work in the story writing department. See the expansions of Neverwinter Nights 2, for example.
But when it comes to gameplay, coding, graphical development and some other critical aspects of game development they completely dropped the ball in the few opportunities they've had.
The fact that they've been getting this many opportunities never ceases to amaze me. The developer scene seems to like 'em well enough for some reason. Me, I'm just bitter that they completely killed the 'fun' I had playing Neverwinter Nights by introducing a monstrosity called Neverwinter Nights 2. Never have I seen a sequel taking so many steps back in gameplay. I'll always wonder what made them think that 'fixing' a solid interface was a good idea. (Cause it clearly wasn't)
We shall see how they shall bring this project to an end. I for one, am not holding my breath. Although I'll admit that more fallout action is going to be a good thing... and I'm kinda looking forward to see their story writing skills put in the Fallout universe. Just no tinkering with engines and interfaces please.