What everyone has said so far is all well and good except you're all forgetting one teeny, wittle item:
There is a difference between doing something the way you think is good and actually doing something right.
In video games, the only way to go is the right way, not your's. Sure, you may think an idea is great, and it probably is, but that doesn't make it the right idea. NT and DmC is a good example of this. DmC may turn out to be a great game, but its not needed nor is it right for DMC's revival. So those of you who see DmC as a good thing, remember that it's not the right thing. Not that it's the wrong thing, but the fact that it's being created and the circumstances surrounding its creation only show that our beloved franchise has been handled in an incompetent manner and that the people who were running it can't seem to just do what they did in DMC3 and stick to the standards given in the first game. Instead, they just give the franchise to another developer, placing that developer in the heat of much hate, and kill off what was an already good idea under the belief that the game wasn't "free" or "let loose" enough. In reality, the franchise just needed some loose ends tied up and a consistent story, nothing that a few retcons and a game full of explanantions can't fix.
So, even though DmC will turn out to be a great game, don't let that blind you from the fact that it's very existence deems DMC as a bad franchise as a whole. What makes things worse is that if you like at what we know so far, you'll find things that the developers at Capcom could've said to fix alot of things and even add to some points of the story. Dante was raised in an orphanage ran by demons? There goes our Nero explanation. Limbo City is controlled by demons? There goes our Sparda storyline. See what I mean? It's almost ironic, if you think about it.
Anyways, sure, there are times where a developer doesn't have to listen to the fans, but this is one of those cases where the fans know more than the developer. We, the fans, know DMC more than NT and probably more than the Capcom Developers. We know who Dante is, we know the Legend of Sparda like the back of our hand, but more importantly, we know what makes DMC what it is and what makes it successful as a franchise. The guys at Capcom struck it right when they made DMC3, but only if they knew that the main reason why we liked it in the first place was because it not only stuck to DMC1 and it surpassed it, gave it more depth and feel than what anyone would've guessed. They have clearly shown they can make a good story, so why not just try again and make another DMC? It's either they are too focused on something else or DMC3 was just a stroke of luck. Either way it goes, if they want to make a DMC game that appeals to the western world or has more of a western flavor, they don't have to look any further than at the fans. We've asked countless times for a sequel to DMC2, why not? All they have to do is just make a better story and keep adding to the gameplay. Why not a game about Sparda? That has so much potential, one drools when thinking of what kind of epic story it might've been. If anything, this isn't the time for the Capcom developers to say "Hey, we want to do things right this time, so we'll just give it to these guys over here" rather they should say "We fell off a little with DMC4, but we'll do better with DMC5! We'll make sure everyone's pleased."
So, while I appluad NT for having such persistence and hope in their project that they ignore our many rants and pleads, I still must shake my head. Sure, DmC will bring the franchise into a fantastic new direction, but it's quite the disappointing way to go. Simply put, Capcom could've done better, whether they want to listen to the fans or not, they just didn't make the best choice.