This brings up mixed feelings in me.
On the one hand, it would finally be nice to have some chuffing closure on the whole mystery of the Shivans thing. Volition has stated that the Shivans are part of a "bigger problem". I'd sure like to know what "problem" that is.
But...on the other hand, given that the average game these days is influenced by corporate analyst groups and subcommittees who "forecast" what would be good to put into a game, rather than what actual gamers want, the end result tends to be at the best tepid, and at the worst just boring and stupidly easy (I'm looking at you, FEAR 2).
Then again, this IS Volition we're talking about here, and I personally thought that Saints Row 2 was awesome. It was Grand Theft Auto 4 without the smarmy bastard cousin calling you every five minutes and going "NEEEEEEKO MY COUSIN I NEED U DO JOB FOR ME". Hopefully, a new Freespace title will be similarly unrestrained.
I wouldn't put money on V calling it "Freespace 3", though. People are tired enough of sequels and sticking a "3" at the end would probably turn off everyone not familiar with the series.