Panzer Dragoon, a game any true Sega Saturn fan had to own, unfortunately one hasn't been announced, but, Microsoft and Grounding Inc have announced Project Draco, a game which looks very, very similar.
The new game was announced during Microsoft's Tokyo Game Show keynote.
Being developed by Microsoft and Grounding Inc, developers of Phantom Dust on the original Xbox console, the Kinect title looks very similar to Panzer Dragoon, and the trailer showed dragons, flyable dragons.
Not much was said regarding the title, or whether the Project Draco name would actually be its official title. All we do know is that it's due on Kinect sometime next year.