Even by Rare's standards, a remake with a new multiplayer sequence should take no longer than three years. Especially considering Rare's team-size and publisher. Vastly-improved zombie chapter or not.
Ugh. And to think they could have just made a full-on Conker sequel.
And I must say, of all of Rare's games on the N64, Conker is the absolute last one I'd want remade. Why not Banjo Kazooie or Perfect Dark instead? Jet Force Gemini would have worked wonders on the Xbox controller and honestly would have raised the bar for Gears of War.