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Of course, you will notice that they just changed the name to something incredibly mundane, Decay: Tempus. It just doesn't sound as good. (The creator claims that the title is meant to reflect the team's current direction, but it still doesn't sound very good). It hasn't had a release yet, but it still looks very good. Judging from the gameplay videos, this project looks promising. It's like they took what they liked in the pre-alpha and retail versions of Daikatana, and combined it with Quake's classic gameplay and the Dark Places engine.
Just check these videos: