In terms of battle system, I don't really have a preference as long as it's good enough.
What I'd really want is some kind of fusion between console RPGs and PC RPGs (heck, even PS:T was kinda like that in some aspects. Despite how some people seem to bash KOTOR, I thought it was headed in the good direction in terms of what I want. Focused story, deep characters, character interaction/banter (more, please), as well as somewhat nonlinear worlds with roleplaying choices.
I think the major complaint people have about KOTOR is that it's too dumbed-down. I personally didn't mind that, but there indeed is room to improve in the roleplaying department.
But hey, aren't sequels meant to improve on the original?
In any case, whether Ob's game is KOTOR 2 or not, I'll be keeping an eye on it.
As for whether it's for console or PC, I could care less, so long as they don't dumb it down.