I thought the stuff leading up to the events of the game sounded pretty damn discomforting (all the stuff about Daniel talking to people around London and them disappearing, "He had no idea that the young man from earlier had cast such a terrible shadow..."). Sadly, we all know how that storyline ends already, so...
Although you said not to rag on about it, I would prefer if they created a new story/game. I would totally fine if they used the same engine and some of the same textures/models/etc (the time period is great for horror, and I can't get enough of the damp, dark, foreboding castle walls
), but fresh games are almost always better than sequels.