According to an email Q&A I just received from Take 2, Sid Meier is going all out on the console adaptation of his epic series.
Sid Meier is very much involved. It's a little known fact that he only developed Civilization 1 by himself, the next iterations had different Lead Designers. This is the first Civ since Civ1 where Sid Meier is in charge of the design and coding himself.
I wouldn't say it's a "little known fact" that Sid crafted the original Civ by his lonesome. All I'm hoping is that he hasn't been out of the game, as it were, for too long.
If you missed it yesterday, I had a chance last week to play a preview build of Civilization: Revolution.