I honestly do believe that Mega Man Legends 3 is poised to be, well, the next Mega Man 9. Sure it wouldn't have the convenience of being inexpensive to produce and downloadable, and it's not the only Mega Man series fans are clamoring for a return of. However, I do believe it's the most sought after revival, from both Mega man fans and general gamers alike. Jesse Gregory over and WingDamage.com has an article up proposing that not only does Mega Man Legends 3 need to be made, it needs to be made for the Nintendo Wii. The article goes over the first two games, fleshing out their charm and potential, and then gives some examples of how a Wii adaptation could work control-wise.
I'm not exactly convinced the Wii's controls would be better for Legends 3, though I do think it's the most likely choice due to the current install base (though I also believe the PSP is pretty likely). Nevertheless, support for the series on any gaming device is great to see. We need to keep telling Capcom we want Legends 3, because I do think they will eventually deliver it to us, even if it's just to shut us up!