Navagon: In all honesty I think FASA deserved to be finished off after that. Let's hope that Smith & Tinker can do something with the Shadowrun IP. But there hasn't been any sign of life from them for about 3 years now... So either they've gone under or are working on an MMO or something of that ilk.
Smith & Tinker was working on a Mechwarrior 3015 reboot. They even said we're bringing in the 'Unseen'. Right after that, a swarm of lawyers from Harmony Gold came in and took them for what they were worth (unfounded rumor). Last I heard they were working on something completely unrelated for the PC called nanovor (or something). Not a peep about Mechwarrior 5 on their site at all.
http://en.wikipedia.org/wiki/MechWarrior_%28reboot%29 Somewhat (loosely) on topic, get your free Mechwarrior 4 here:
http://www.mektek.net/projects/mw4/
Delixe: Both TSR and FASA had lost the plot with their IP's around the same time they were both losing millions. I've seen nothing from S&T either so I can only hope IP's like Battletech, Earthdawn and Shadowrun find their way into the hands of a company that will actually do something with them.
Earthdawn? Wow, someone else that knows it exists! Shame it came out while Fasa was in decline. Of course, the decline was hastened by Harmony Gold's lawyers. Robotech makes me *frumple*. Macross is much, much better - err, well, except the 'Minmei defence'.
Wow, here's the case, HG vs S&T and Virtual World Entertainment - was MW5 to be an MMO?
http://www.alex.kaempen.org/harmony_gold_v._fasa2.html Here's some more interesting reading, it's a summary of what-when-where:
http://www.terrania.us/journal/2009/09/harmony-gold-vs-battletech-second.html