Personally, to finally get some information that the game is not forgotten is good enough for me...but to find a rumor that it may go towards the MMO route is a double-edged sword.
Don't get me wrong...this game was crying to be really, truly online for a while now, and they almost got it right with Animal Crossing: Wild World, what with their online town visitation and Wi-Fi capabilities. But that's just visiting someone else's town, which is still just one town. When I played Animal Crossing: WW, I was expecting to be able to visit some humongous Town Square where I could visit 20-30 people at a time to trade, converse, and possibly hit with my bug net. Hehehe...
All childplay aside, the rumor of going MMO is definitely a positive step for the game. Now the bad...
When most people think MMO, the first thing that comes to mind is World of Warcraft, or WoW...and the next thing that comes to mind is addiction. What other massively popular game can you think of where it's critically acclaimed for its hidden social interaction, while at the same time blamed for the small number of stupid people starving themselves playing 3 days straight in a public cafe? I don't want to read about children loosing their ability to sleep and eat over trying to earn enough Bells to pay that Crooked Nook for larger house upgrades.
What I would like to see in this next iteration is perhaps some other modes of transportation. We've seen trains and cars, but will we be able to own our own car to travel? Hell, even a bike would work fine. Just anything to traverse the possibly large maps that this game may have.
Oh, and Nintendo? Make that Town Square meeting place. Wouldn't it be just awesome to have everyone there listening to your announcements, as opposed to just sending mass letters to everyone that they got a secret gift from the president?
Me? I'm gonna take swings at people with my bug net.