Just wanted to throw a few more cents into the discussion here:
Apparently there is a Soulcalibur project in the works now: How far along, and whether or not it's Soulcalibur 5 or not, are still unknown... though there are strong indications that it will in fact be SC5.
Katsuhiro Hadara, the director and producer for Tekken announced the new director for this particluar project, a fellow by the name of Daishi Odashima. Forgive me if I'm getting either's names backwards.
Daishi is a former Soulcalibur 1 tournament player, he was an unofficial tester for SC2, and was hired by Project Soul during the development of SC3. In SC4 he was in charge of balancing the new characters: Darth Vader, Yoda, Starkiller, Hilde, and Algol.
Though Namco-Bandai has yet to make a official announcement, both Hadara and Daishi assure that a game is in production and even talk with fans on their respective twitters, often through the aid of translators.
Daishi's Twitter can be found here.
And Hadara's Twitter is right here.
Personally; I have lingering reservations about a tournament player, former or not, having the final say in the game.
I for one don't want SC to become too competitive, there was already a lack of content in 4, if somehow the game gets further dummied down it's really gonna suffer. The content that was out-right cut from SC3 to SC4 was disheartening enough; especially the gutted CAC system.
Still; concern aside, I've been following them for a while and I'm eagerly awaiting more official confirmation, and more details.
I figured I'd share with anyone who's interested.