Won't cry, neither. Honestly, aside from the extended Descent series I haven't seen anything Volition did that impressed me. Didn't think Red Faction was nearly so horrible as everyone claimed (though I only played about two levels), but aside from the geomodding and tanks it was a completely generic shooter, and most of their other games were about the same- one or two innovative touches (often brilliant, sometimes not) in an otherwise mediocre game. The middle Descent was like that, FS2 only stood out because FS1 was inspired, Summoner just isn't my thing in general so I can't comment much. Much as I like a lot of the things they did with FreeSpace and appreciate all they did for their community (which is, near as I can tell, more than any other company has done, with the possible exception of Valve), they were never exactly Bullfrog or Particle.
In fact, it appears that what really made them cool (their close relationship to the community) really dried up shortly after RF- understandably, given that any mode of communication regarding a shooter is basically going to be assholes 24/7, so there's not a whole lot to lose here. They'll continue to make relatively generic titles with a couple neat twists as always, no loss to fret about there.