Peter here from ScrewBit Games! We're a newly formed indie studio made up of people currently working on a fan-game called Mega Man 2.5D.
Unlike that game however, the project that we'll be working on as ScrewBit Games is not a fan-game. It's still a little early to announce the new game as we're in the process of finishing up Mega Man 2.5D, but we thought we'd at least show a concept to get things started.
This is one of the styles that we're considering going with for the game. A cel shaded look very similar to that seen in The Wind Waker for the GameCube.