Yes I personally know someone is working on SH4UBM but although the Atlantik will be recreated in different and superior manner to SH3, he is not reinventing the wheel and the Atlantik will only be a prelude to the misery to follow.
That is really what you seek in a slavish recreation of Sh3, something already done, right? Truly creative people are never happy merely copying the mistakes of the past. SH3 will
not live again in SH4 clothing.
Just know that people with better imaginations and abilities than us are working on something you don't know you want yet. Think "google"