I'm glad that many of you are expressing concerns similar to my own. The single player portion sounds amazing - updated graphics, online co-op, untouched physics/geometry, and terminals is going to make for a hell of a fun time. Now if only they were applying such a fair treatment to the multiplayer......
When Frankie says the game wouldn't feel the same over Xbox Live, well, that sounds like a load of crap to me. Halo had no netcode whatsoever but it still played acceptably over tunneling software, and at a time when high speed internet was still burgeoning. How could professional coders possibly do worse than a few hackers? Also, he talks about netcode as if it's something foreign to 343, but they sure as hell are gonna need netcode for Halo 4.
People talk about that illustrious "feel" to Halo, which no subsequent game in the series has been able to capture in the same way. A good deal of that feel was a result of the physics, but some of it was just intangible. Shoehorn the multiplayer into Reach and we're basically playing very fancy Forge re-creations of the original maps. I guess this is better than it was before, though, since Bungie never cared enough to give us a real way to play our Forge maps competitively. The only redeeming factor here might be the "Classic" mode, but that will probably just be a gametype that shows up in matchmaking and gets vetoed in favor of "Snipers" every fucking time.
Instead of this half-hearted multiplayer, 343 should just right Bungie's wrong and give us a lobby system in Reach to play our own Forge maps and gametypes. We would've already been playing the maps and gametypes we want to play, and the increased exposure would guarantee a resurgence in Forge output from the community, leading to maps that would be nearly on par with whatever Certain Affinity will make. I know I would still be playing Reach if they had given us this one simple thing.