Do think that there is a possibility of having hand-to-hand combat. It could be useful, like when Master Cheif runs out of ammo he can go over and just beat the -blam!- out of some grunt. Because to me the whole idea of melee combos with a weapon doesn't sound all that realistic, though a cool idea none the less.
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I don't think they will have hand to hand combat, i mean its not like if you want to fight an elite hand to hand he's going to drop his weapon and put his fists up and say "BRING IT ON!"