While the new Phantom Dust has been absent from Microsoft’s last two E3 shows, the IP is most certainly not dead.  The reboot might be, but the property will live on in a “remaster” of the original game that was announced after Microsoft’s press briefing.  The game will use the original assets, which means it will be an upscaled re-release with modernized features (such as support for the recently announced Xbox Live Arena).  The game is expected to release in 2017 and will be a part of Microsoft’s Xbox Play Anywhere initiative, which grants players access to the game on Xbox and Windows 10 when purchased digitally.