Thanks to arturchix who found a post by former New World Computing employee Tim Lang at the TELP Might and Magic IX Tavern. The game designer is now working for Nival, although by the time I write this he hasn't revealed anything about his project:

• About his new job: "Nival just opened a US studio, and I'm their first designer."
  
• About the Might and Magic community: "I'm really amazed that not only is this community still thriving, but that people are still playing MMIX... so much has happened since we pushed that game out the door that it seems like an eternity since it shipped. It's awesome that you guys still play what I see as a tiny slice of my life."
  
• About Oblivion: "I see so many of the same elements that we were trying to do with MM9 that you could almost call Oblivion MM10."

Tim Lang is also an advisor on the Might and Magic Tribute project. I spoke to him back in 2004, when he had just joined Electronic Arts.