On G4TV and other interviews even after the production of Gears Of War Cliffy expressed he would still be interested in a New Jazz Game.

Also. Despite him being interested, he stils wants some cash. If he was truly into Jazz because he liked it, he probably would have paid for them to release the JJ3 Beta

I think this UDK opens the doors to a Jazz Fangame. The thing is, knowing some of the devoted Jazz fans around here, it would likely turn into a half decent fan game because wed put time and effort into it.