Along with the rating, an M, Harmony of Despair is pretty much confirmed without a doubt. The rating says that it will be coming out through Xbox Live Arcade, no news on PSN, and will feature HD visual using the classic sprites. It also restates that it will feature 6 player multi-player, but does not elaborate any further.
I would really like to know what this multi-player action is.
I assume it might just be a tacked on mode to a normal single-player game.
Also since they said that they are using classic sprites it could be a 2D collection or even a remake like Chronicles for the PS1.
You can also get a look at the leaked Title screen after the jump.
(Picture courtesy of 1up)