I, for one, wouldn't mind if they went the action/rpg route. I actually thought the first one was going to be an arpg until right before it came out. Plus, ME2 is a damn fine pedigree. I liked the first one enough, but it did have it's problems. WAY too many items for one. It just got so confusing, and resulted in gobs of time spent micro-managing everything. Unlike some people, I do not like this.
I have no problem with a Dragon Effect game.