Yes.
"We planned on making JJ3, a complete follow up to JJ2 featuring less ingame story, modifiable maps, modifiable outfits, all characters from ALL jazz games, double multiplay etc.(xbox live, ps2online) And it was to tie into the storylines of our JJGBA title"
Modifible maps is not a feature you see much of today in platformers, and if they could make the gameplay worthwhile, then that would be one heck of a title.
Plus, with modifiable outifts, you could probrally create Jazz to look the way he did at the begining of the JJ1 intro movie.
I could care less about the story though. Then again, Eric could have made everything up at the last minute.