This is really good news and I anticipate that it will be a superb kit. Floyd Werner helped with the research and CAD-work.
It was going to be 1/35th but on the news post on Cybermodeler I read that Kitty Hawk said they'd read too many forum posts where people said they preferred a 1/48th scale kit.
Meanwhile there's a 12-page thread full of high anticipation on the forthcoming Kitty Hawk 1/35th Huey.http://www.arcforums.com/forums/air/index.php?/topic/294463-kitty-hawk-135th-scale-huey/
Those guys were really drooling for a really good, new large-scale Huey...
They are going to be soooooo disappointed.
I am too but, you know, having three or four top-quality 1/48th Huey kits (and the space to display them) will probably help me get over it.