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I know there has been rumors flying around the interwebs for quit awhile on the sequel of Okami, Okami 2 for the Nintendo Wii.
Is anyone here going to get it when/if comes out?

Not to my knowledge, no.

Though I feel it would only be a letdown unless the once-Clover Studio, once-Seeds, now Platinum Studio develops Okami 2. Still, I would have to buy it. I've wasted 17 playthroughs on the Japanese and English version of Okami already. I'm just curious if CAPCOM even still cares about Okami since they still hold production, trademark, and marketing rights for it.

From what I know, Capcom is a bit discouraged about making any sort of sequel to Okami because of the sales numbers it got on both PS2 and Wii. It's possible that it could come to light but that path is very dim and no one knows what is happening.

If one should come though, I'd buy it instantly. I'd hope for some of the original developers from Clover to work on the sequel but as things stand now that sounds very unlikely. And even though all Ready at Dawn did was port over the PS2 game to Wii, I'm curious what would happen is they were to make the sequel...

The same for me. LOL!