As an adventure game junkie in my youth (and the only person I know to have played CODENAME: ICEMAN.) I'm psyched to see that Sierra Games is coming back in... some capacity (http://www.sierra.com) but most likely (according to Geoff Keighley's sources) with a new King's Quest game. The first King's Quest I ever owned was IV: Rosella's Quest which for reasons that are now very obvious, I got to play a princess, resonated with me most of all. I also LOVED the Hero's Quest (later, Quest for Glory games) and to a lesser extent the Space and Police Quest ones. There was a part in Space Quest IV when Roger Wilco had to devise a female disguise to sneak past the mall security and I must've replayed it 30 times. I never wanted him to go back to his space janitor routine. Just sashay around in his LBD. :P
The big question is if Roberta and Ken Williams will be at the helm (or at least consulting for Activision) or if it's just dragging the name from developer's hell to sell something. :-\