Monster Hunter 3

Monster Hunter 3 is the third installment in the Monster Hunter series and is the direct sequel to Monster Hunter 2. It was first announced for the Playstation 3, but was canceled. Capcom, specifically Capcom managing corporate officer Katsuhiko Ichii, announced on October 10, 2007 that Monster Hunter 3 will be a completely Wii-exclusive title. It is also very likely MH3 will be able to be played online since Nintendo announced a plan to ally with NTT East and NTT West, the regional fixed phone service unit of Nippon Telegraph and Telephone Corp. The partners will offer a one-stop service for Internet-ready Wii, covering select Internet service providers and setting up an Internet connection. 

Development
Keiji Inafune appeared at the end of the trailer saying the following message:

"I'm Keiji Inafune of Capcom. We're glad to announce Monster Hunter for Wii. This Monster Hunter 3 is an original sequel to Monster Hunter 2. The images you've seen were created on the actual Wii hardware. Our developers are working hard on development now. Please enjoy playing Monster Hunter with the Wii Remote to your heart's content. And please look forward to the actual release of the game."

Expectations from the Teaser Trailer
Link to the trailer:

The video was recorded from a Japan Conference where Capcom announced its Wii-exclusive title and teaser trailer. From it, we can expect that there will be new areas and heightened graphics. It is assumed that the new village will be on a port by an ocean. One new monster was shown at the end of the video, appearing to be a slender water serpent that makes whale noises.