THQ announced at this year's Comic-Con that they have been working on a game based on the old Voltron cartoon. The game will offer up to five player co-op, and allow you to play as one of the lions that make up Voltron. Whether or not you can play with up to five players locally wasn't mentioned.
As a childhood favorite I'm personally excited, though at the same I'm also a bit worried. While I have fond memories of the show, I haven't broken the cardinal rule of not revisiting childhood favorites. That being said, Voltron is unwatchable to me now. Though it doesn't change the fact that it was a great show for older geeks like myself when we were young.
As for the game, I hope they change the voice acting from the show, or give it some better quality. But if the game is cheap enough I'm sure many other geeks will be picking it up or downloading it on PSN or Xbox live this October.