Millennium 5: Battle of the Millennium announced
From what I’ve read, Millennium will feature tournament-style fights that occur in a sort of martial arts ring, where you can win by knocking (or tricking) your opponent out of the ring. Beyond that, information on the ground about this game is rather thin.
According to Aldorlea Games, Millennium 5 is “getting close to its release.” (It was initially scheduled for release in December 2012.) I expect they’ll release more details when that happens. In the meantime, why not look at some screenshots?