I enjoyed playing Hitman 2 - Blood Money (never got to play Agent 47 as it's PC only), granted they were frustrating at times if you just wanted to finish the missions properly and/or progress the story, but the games did have amazing ways to kill people, Blood Money had the best missions in my opinion.
Problem is, now that Assassin's Creed is around, how can Hitman compete with that? Granted AC is part Prince of Persia, part Hitman (?) and/or part Thief (?), it doesn't exactly have all the fancy ways to kill people like the Hitman series does so the latter could be just fine.
We don't exactly see many stealth games in this day and age, so Hitman would definitely make a nice return.
The last I heard about H5 was that it's based on the new films plot, I believe I read about that in 2009, so things may have changed.
I'm no hero, never was, never will be, I'm just an old killer, hired to do a little wet work. sOLiD Snake, MGS4.