Well, if they're making a new engine we might see a new AC, or something similar, based on it - provided the thing works better than the on in Civ III.
Personally, I think I will keep playing AC for some time, despite the bugs. However Civ III has already been worn down, I'm so disgusted at the battle system. Whoever decided that there should be 2-5 HP didn't know what they were doing. There was something wrong with the system from Civ II or AC? It was almost perfect! In effect, you really only have one choice to win:
* Get to Mobile Warfare
* Build lots of Tanks
* Use some basic strategy in grabbing the cities in the right order.
The alternative is to just grab enough to put you ahead of everyone else and go Space race, or grab enough that you get a domination victory somehow. The faults are numerous. The tech tree is absurd, historically incorrect (Astronomy, as in basics for navigation, is in the middle of the medevial age and after Education and Theology. Every heard of the Babylonians? It's at least 3000 years off. Back in Civ I and II you get it much sooner) and just boring. There are way too few units, so there is almost never any point to researching during wartime - something that happened a lot in both real life, AC and Civ II. Ships are much too slow - there is never any point to sailing around a continent rather than walking across it, and that's stupid. I could go on...
They're also overcompensating for the things that were too strong in AC. Cruise Missiles too good? Let's make them useless. Choppers? Useless. Wonders? Weak. Some are good, but they're generally not worth the bother. Spying? Useless. Tanks were weak. Let's make them overpowered!
Its saving feature is its modability. I've been playing the DyP mod recently, and they fix so many things in it. Some things go a bit too far, but it's much better than vanilla Civ.