Actually it's more of a System Shock 3. They arent recreating anything, just making a sequal on Earth. As for the Shock Project, it was cancelled not-too-long ago due to the leader going to college, (I know the guy and we talk a lot on AIM, and he deeply regrets any discontinuation) and also the Dark Engine has some major problems with MODing, and you require an inconsistant level editing tool to make levels: 10X harder to learn then the Lithtech DEdit engine for AvP2. Also, a lot of things with designers turning up in fewer numbers, I believe. However, you can download what they HAD worked on for everyone to get. If you stop by the TTGL forums and look around for the Shock Series, I also post there, but go and see in the General Shock Discussion that the project was cancelled.
Very sad indeed...