I have fond memories of this game, as I used to play it years ago. Anyway, this was announced recently via Interplay's website: 
 

April 14th, 2010) — Interplay Entertainment Corp. and G1M2 will partner to bring the classic Descent to the Wii.

“Descent remains the most popular 1080º 3D blasting game. Translating its 3D worlds and game play to WiiWare™ is an exciting move”, said Hervé Caen, CEO of Interplay. “Descent will pair perfectly with the motion sensing Wii Remote™ controller and we can't wait to show players how intuitive the game play and control can be” seconded Scott Hawkins, the Founder of G1M2.

Descent is expected for initial release during Fall 2010 and is planned for electronic distribution through Nintendo's WiiWare™ service.

“Following Clayfighter DSiWare™ & WiiWare™, and Stonekeep WiiWare™, Interplay continues to redevelop its fantastic portfolio of games,” Hervé Caen concluded.  

HOLY SHIT YES! maybe they can get mutiplayer working! me and a friend used to play so much descent!

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAWESOME. If it has on/off MP. If not, gtfo interplay...

The rest titles they plan to send out show how desperate they are for income though... Would be nice if they made sequels/remakes instead of ports...

HOLY CRAP.
 
I can honestly say that I never expected another Descent game. Descent II had awesome music.