I'm betting the new IP has little to do with Marathon or Halo (though literary allusion and symbolism are sure to abound).
Activision Blizzard partnered with Bungie, because only Activision Blizzard and Activision Blizzard alone had the expertise that Bungie required for their new IP.
Bungie is making a departure from Halo, and they are making it cross platform (something they couldn't do with Microsoft) with their new IP focused on broad appeal.
Put it together:
Activision Blizzard partnership: (They made the most popular MMO)
Bungie: New IP has broad appeal.
When you partner with Activision Blizzard for their expertise, when you want broad appeal, you get a cross platform MMO whether that be MMORPG is unknown).
It may be connected by lore to Marathon or to Halo, but I doubt it.
Edit: Interesting read though. I love the theory, and I don't intend to be party-pooper.
[Edited on 02.12.2011 12:57 PM PST]
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