This is really pleasant news to login to... between being busy and not being able to post w/ the recent glitch, I'm a bit behind on things.
Obsidian didn't ring a bell for me immediately (had to look them up). I'm not a great fan of the whole Neverwinter Nights, Fallout, Baldur's Gate style stuff, but if they got Kato on board, I'd be pretty interested. I do wonder about the character designs... I'm not much of a fan of anime styles, but it would be bizarre to see a more Americanized take on their faces, hair and such (assuming it had any recurring characters.)
I'll also go out on a limb and say that I think there's a real chance that a game made by enthusiastic fans / developers who grew up with CT (coughcoughCrimsonEchoescough) might be better than a Kato / Mitsuda led effort, in the way that the first two Star Wars sequels were superior to Lucas' new trilogy.
Sands of Destruction, as someone else mentioned..... I tried so hard to like but it just didn't even come close to what was expected. It honestly made me wonder if they still had the chemistry, 15 years later.
I don't see a negative side to the prospect of Obsidian taking a shot at the franchise. Sure there could be disappointment, but that chance is always there... Heck, for some folks like me CC was a letdown. The franchise has been ignored by SE for so long now, I don't think there's any such thing as bad publicity.
Ideally, IMO, Obsidian's interest would prod SE into realizing that the interest is out there, and they'd just take on the project themselves... I'll keep dreaming in the mean time...