Of course it will come out. Nicalis just announced with a full blown press release that Cave Story Wii is to be released on March 22, so late or not, Nicalis is capable of releasing games. Sure, as the NightSky trailer on youtube says, the game was supposed to be released 2009, but even though it's late that doesn't mean it will never happen. Just look at the
mother 3 translation project. Due to the fact that the translation took a lot longer than intended, a lot of people went "It's never going to happen", yet one day the full translation was there in all its glory.
And in the meantime, I'm on my own working on yet another game which is small and a release isn't far away at all so you'll get quite some activity after the period of pre-Saira silence.