Interesting... I was rather disappointed with what Brownie Brown did with Shinyaku Seiken Densetsu, but I was still surprised to hear they weren't working on Children of Mana.
While Brownie Brown's actual game work on Sword of Mana could have been better, for me, the real disappointment comes from the direction that Squenix has taken the series in general. I want to see a return to normal weapon and magic systems without all the vague time-wasting customization options. I'd also like to see puzzle solving come back (it was only in the original SD1) as well as stronger storylines. For me, SD3 was the pinnacle of the series, and it's fallen considerably since then.