So finally, there is some new information and more importantly, gameplay videos on the newest Contra game, thanks to 1up.com. All I can say is it looks very nice, but I'm still a bit edgy on it, considering Treasure (whom helped with previous Contra games and made Gunstar Heroes, one of the most popular side scrolling shooters out there) isn't working on it. From what I can tell, the level designs seem to get some ideas from both Contra and Super C, with some tweaks added such as Contra III's weapon system and enemies. It all looks nice and going from the gameplay videos the animation is incredibly smooth. Some of the bosses look like they'd belong more in one of the newer type of Castlevania games rather than a Contra game, though, but they look awesome regardless.
Sound wise, some of the sounds seem to be rips from the original contra (such as the Pea Shooter firing) and the only music track so far is actually a remix of Contra's Level 3 (Waterfall Level) music. I'm actually hoping that they generally do that with the music rather than creating new songs for the game, to be honest. Unfortunately there wasn't much sound or music at all in any of the videos so I can't be the judge of that.
Chances look good that there might be a character select in this game, though that might only come down to difference in looks rather than gameplay, it's still a nice touch. It might also open up an opportunity to add unlockable characters (such as the Hard Corps cast or if they're feeling rather joke-y, one of the player sprites from the original Contra, Unedited). They do it all the time with the newer Castlevania games, so I don't see why not here.
Anyway, in conclusion, I have my hopes set up for this one, and hopefully it won't end up being too short to be worth it. Though I'll have to wait on more news before I can make a final decision.