This game is not canceled! That guy who posted in 2010 about it being shut down was wrong. In 2009 it was picked up after Cryptic dropped it, by Gazillion Entertainment, under "Secret Identity Studios" and renamed Marvel Heroes. It is a PC and Mac game, it will not be for consoles! It is very much like an online version of Marvel Ultimate Alliance, as you will play the many popular and unpopular heroes of the Marvel Universe, and not you're own toon. They will be using the Unreal 3 engine, and the game play will be like MUA , and Diablo 1 & 2 style games. Marvel Heroes will be free-to-play. While micro-transactions will be used to fund and support the game, players will not need to spend money to access the full game.
Main Site: https://marvelheroes.com/