I just hope they make sure to pay good attention to the survival part of the survival horror genera. Not only should things look and feel scary but there also needs to be a good aspect of, "Oh god, I've run out of ammunition and now I've got to fight tooth and nail to go on." I only bring it up because I don't ever remember having that thought in my mind while playing RE4 but that was a long time ago, so it's possible I just played it on a simple difficulty level.
But hey, the guy behind RE4 with Bethesda sounds like a great combo to me in any situation.