Well, to start, I don't think any of us should get our hopes up. I mean, seriously, everyone in America wants independance from foreign oil (disregarding the greedy bastards who are keeping us from it), but that doesn't mean we're going to get it. The President (hopefully) wants world peace, but we're not getting that, either. The fact that this guy wants NiGHTS 3 and Chaotix 2 is pretty much just an indication of that: he wants them. Boy howdy. The odds that Sonic Team will allow the production of a sequel to a commercially-failed and profit-sucking sequel to a game nobody ever heard about until it became a cult hit are staggeringly low.
I believe we can all come to terms with the fact that Journey of Dreams failed. Big time. It disappointed the majority of us, and I don't think anyone was like "HOLY SHENANIGANS THIS IS THE BEST GAME EVAAAAAAAARRRRRRR" about the damn thing, so if it fails for the most part among the incredibly loyal fanbase, then I doubt it did well anywhere on the demographic. Magazines (other than Nintendo Power) game it bad reviews; plus, now that everyone is obsessed with sucking the metaphorical gonads of Master Cheif and whatever goon the Grand Theft Auto series vomits out next, a purple-clad, girly-looking jester that stars in a game about family values and believing in yourself is NOT going to meet the sales quotas of money-hungry Sonic Team. While I HOPE that Sonic Team is finally pulling its head out of its arse and getting its stuff together with Sonic Colors and Sonic 4, they've got a ways to go before they can release another fan-appeasing game. Sonic Unleashed's day levels were a step in the right direction, well at least the direction that doesn't involve stepping in the poo that is Werehogs and the entirety of Sonic Travels Through Time '06. They're starting to catch on. But they would honestly have to be STUPID to release another NiGHTS game so directly after the failure of this last one. Of course, that means we'll probably get it.
As far as the game itself, if the blessed relic were ever made, I wanna see dreamers that aren't kids. Maybe one of them can be. But not both, or heck, have more than two storylines. That wouldn't be horrible. They could even take place at different times and have nothing to do with each other, except in crazily subtle ways that would make you go like "Oh wow, that's neat." I mean, seriously, kids aren't the only ones with problems around here (but honestly, some of my ideas are a bit more serious than the NiGHTS label may be willing to take on, but GET OVER IT).
Imagine a single mom. She's working two jobs and barely supports the kid, let alone herself. Aside, her mother is trying to get the child taken away on the grounds she's an unable parent. Say Mommy's afraid of courts, like her dad was sent to jail or something when she was little. The climax (her basketball game or music tryout), would be in court when she testifies calmly and clearly, thanks to the calmness that NiGHTS taught her. Her Nightmaren bosses would be representations of her mother, the judge, her own ineptitude, whatever have you. Besides, it would be neat for a character to NOT have faith in NiGHTS for once. She could be like "This is a dream. Just shove off." ON THE OTHER HAND, Reala would be constantly harassing her like a bully on the playground. During the final cutscene, she'd hear his voice say something like, "They're all watching you. Waiting for you to screw up," but then she'd think of NiGHTS and OH BOY HAPPY ENDING.
Another idea is that of a cripple (this one can be a kid). This one's pretty self explanatory, and I'm sure we've all got the same idea. Moving on.
Maybe a kid that's interested in karate? Or something less conventional that HUR HUR BALLS. I mean, the people who're playing this game aren't going to be like MAN I HOPE NIGHTS'LL HELP ME SCORE THAT GOAL TONIGHT. Have someone who's interested in writing, or running, or
pole dancing pillow fighting mud wrestling
I want more hot, gooey, NiGHTS on Reala interaction. I want to see how the two act in more situations than "HEY NITES IM GUNNA GIT U" and "NO U AINT IM WHIMSICAL". I want FLASHBACK SCENES -gets shot- and CHARACTER DEVELOPMENT.