Master 2D shooter developer Treasure (Gunstar Heroes, Ikaruga) is hard at work on a new game for the Xbox 360. While initially reluctant to share any information, 1UP managed to squeeze out some details in this interview:

1UP: So when will we finally see your 360 project?
MM: I can't talk much about it yet, but I will say that it's an original shooting title and that it won't be released for a while. I hope we can start showing and talking about it soon, though.

1UP: But it's at least still a top-down shooter, right?
MM: Yeah. We'll use really great 3D graphics but it will retain the 2D gameplay people love.

1UP: So is this the same team that did Ikaruga?
MM: Yes, the same director and team.

Don't start saving your preorder cash just yet, though, as the game is said to still be very early in the development process. Very very early.