True, I see what you're saying. Either a new story could work, or possibly a reboot like it seems they might be doing with King's Quest. After all, it would allow them to better tie things and themes together throughout the games, (If they wanted to reuse old plot elements) since QFG3 wasn't originally intended to exist, it always kind of felt odd, especially with the villain that wasn't important in the grand scheme of things.
I'm just a huge QFG fan and seeing King's Quest coming back has my hopes up. :P