Some of the people who are commenting here and elsewhere with their dismissive judgements on the graphics just show that they don't know jack about Duke Nukem to begin with.
Those of us who were able to play the different releases of Duke on the PC as they happened were fans not because the graphics of the 90's titles, (though they were sharp at the time) but for the atmosphere. Much like Ash from the Evil Dead, Duke became an icon for his one liners, the fact that he embraced every stereotype of a meathead jacked up on testosterone and a guy who wouldn't know "politically correct" if it bit him on his backside, and wouldn't care either way.
The graphics and physics shown are more than enough to carry the game to the top IF the gameplay and personality is there throughout. THAT is what made Duke Nukem and that is why the character is legendary, that is what seperates the property from all the other "gotta play this the best shooter ever" titles that are forgotten in a month.
If they did close, maybe something can be put together to get this to a release state, maybe someone will finance it. I am hoping rather that this really is a well crafted marketing scheme, it would be a stretch, but of all franchises, something of this magnitude would be fitting of the return of the King.