The games Romero and Carmack made decades ago were in a different age. It was a time when absolutely dumb, mindless shooting games were acceptable and popular. Graphics were atrocious, storylines, character personalities and scripts were pretty much non-existent. Carmack knows where his strengths are and now sticks to what he's best at. And clearly that isn't writing scripts and developing characters but being the technical whiz-kid. Romero, from what I understand was and still remains the least talented of the two. Maybe I'm being harsh, but I can't imagine for a second Carmack would have any interest in working with Romero, except perhaps out of sympathy. As a business relationship I can only see this being an advantage for Romero.
Maybe I'm wrong and if these two created a new game together it could instantly be the best videogame in the industry's history. It could sell faster and more copies than Modern Warfare 2. It could be critically and universally loved. It could be perfect in every way, the ultimate videogame. The pinnacle of entertainment and technology in perfect harmony. Personally I don't buy it for a second. It would probably be a dumb, old-fashioned, technically interesting, but ultimately lifeless affair that's best to stay in the imagination of Mr Romero.
Sorry pal, you had your time, you blew it, and now you're unimportant to the industry, and it's customers and need to accept your failures, your lack of competence and utter insignificance. This story is as sad to read about as it would be to hear Ringo Starr wants to reunite with Paul McCartney and make Sgt. Peppers Lonely Hearts Club Band 2. Even that analogy is wildly wrong, as Romero isn't even the Ringo Starr of the gaming industry... he's more like one of those rock stars of the 60s who ended up dead from a drug overdose... except he's still alive, and probably not looked back on with any fondness or affection by anyone!