I was really hoping they would, but I'm not even certain they're ever going to finish QFG2.
I was talking about it the other day with someone, and he said that another team was remaking it, but I never found out who exactly
Maybe this is it, though the actual site seems to be hosed:
http://www.adventuregamers.com/underground...info.php?id=622
But I'd really love it if AGDI remade KQ3 - their remake/revamp of KQ2 was freaking awesome. I hope this other team is just as good.