I tend to echo the sentiments here, a studio is the people, not just the label. Heck, I doubt these guys even have a D&D liscence anymore to help them along.
It's sort of like if someone realized Steampunk has fringe popularity that isn't going away and decides that they want to reform Troika to make "Arcanum 2"... without any of the people that worked for Troika or developed Arcanum.
More RPG developers are always good though, I hope they prove me wrong, but honestly it's their product that I'll be looking at, not the "Black Isle" name.
Truthfully for the next great resurgence of single player RPGs I'm looking towards Richard Garriot who apparently said a while back he was going back to single player game design. If he can get back the Mojo that made "Ultima" great, I could see a major success there.