Yes, it's not impossible, just unlikely. Obsidian (founded after Black Isle's closure) has already done KotOR2 and NWN2, so I'd bet on them.
The deal with LucasArts is slightly different, as Lucas has the copyright over the StarWars universe, so it's impossible to develop something in there without an agreement with LucasArts. Baldur's Gate instead is set on the Forgotten Realms, which is part of D&D.

My understanding is that Atari holds the rights for those AD&D products. Therefore they can contract or assign or whatever any of those titles to any developer to design.
Correct me if I'm wrong but I believe that this is the reason that Bioware did not produce any further AD&D products.

Eh, Bioware isn't very large, I think they probably have their hands full with the Lucas Arts MMO, and as MMOs go, it looks like they require a great deal of support on the developers end, this type of support can go on for years and years after the games initial release. The most disappointing thing about the Bioware/Lucas Arts MMORPG wasn't just that it was designed poorly for the preview, but that it would tie up Bioware for many years to come.
Bioware is already expected to continue their Mass Effect series, and as Bioware is owned by EA the majority of their interest will be in Console games, so I doubt we'll see Bioware's name on this, because it looks like they're too busy, and according to EA it probably isn't within their best interest.

"In art there are only fast or slow developments. Essentially it is a matter of evolution, not revolution."
-Bela Bartok
This is why I am so bothered when all the next gen games try to reinvent the wheel (revolution) rather than continue to build off the old, successful model (Infinity Engine). Imagine a BG3 set in a far more advanced version of the Infinity Engine with all the elements we once loved and additional ones we never dreamed of.
But no, that's asking too much.

They could be picking up a new story-line based in the same "universe," I suppose. It could be interesting, but it would, of course, depend on how it was done.
As far as other titles getting re-made, I wouldn't mind seeing an updated Star Control 2 (have I heard something about this being worked on?)...

I see your point, and I have to agree, but on other hand, i have F3 CE on table and its realy my worst buy in my life. Compared to those "rpg games" mass effect is superior, at least it have story able of holding me at PC. But I still miss those old RPG games on infinity engine, NWN and others with trully long and deep story in well made worlds with lots of posibilities how to play them.
If I look on games for last few years, bioware is one of last remnants of those games. Maybe this is the reason why I like GOG so much :)

Stardock wanted to buy the license, but I believe they haven't been able to get it yet.

<--- see avatar. oooo yea. SC3 was crap anyway

Pkunk Power!

This really confuses me. The Bhaalspawns story is complete. If they want to make another game in Faerun, great, but why call it something it's not? I mean, I KNOW why, they get a free ride with that name, but come on.
Maybe they'll justify it by setting the games actually IN Baldur's Gate, like those action ones. I'd like to revisit that city...

They could also make a prequel (like telling the story of your parents etc., or how the enemy rose to power etc, you could even play him..) or just tell the story from another perspective (making a sidekick to the main character etc), that's what they usually do when they don't want to make up a completely new one.

The Infinity Engine was awesome because of the lack of repetition in the game environments and the more 'hand-made' feel of the graphics.
Magic Missiles were also much prettier, red pinpoints of light look better then the generic blue bolts seen in Neverwinter Nights.

Have to strongly agree there - BG2 on higher res. still looks amazing to this day, and I love the spell effects. Games of that quality should be used as reference points for modern games.
Despite mass effect having nice visuals, the repetitive indoor environments and character/item models make me long for hand drawn backgrounds.

A big problem with modern RPGs is that they try to make a huge sandbox world each time. The problem with that approach is that it takes forever to create all the differente environments and at some point they start using certain cookie cutter formations and the world just comes out stale. They really need to either a) make a smaller, more interesting world or b) find out some type of algorithim that creates environments but makes them DIFFERENT on a mass scale. BG2 and the like were large, but at the same time those maps, mostly in 2-d, didn't require nearly as much work to create and they could focus on making them unique and interesting.

It's not only the visual effect. Whats the point in having a giant world, if only 10% is of actual use, like a city, dungeon, some people wandering through the wildernes, a moderate lake/river etc, a forest etc.
There is no point in making the world that large, that you need 5 hours to walk through the forest, if nothing ever happens there. If you can not cut wood, if you do not meet woodcutters, nor forest elfs or a witch's house.
And whats the point of a lake the size of an ocean, when you can not even swim in it or use a boat/ship etc?
Of course you should not be able to walk out of the capital city, turn right and stand before the enemies giant fortress no one even knows if it exists, too. But that is hardly a problem in modern games.