It certainly does sound a lot like Psy-Phi. If this is true, I hope it is coming to more platforms. Wii MotionPlus would be able to handle it, just not be in TRU-HD. Natal could easily pull off the game too, though it would have to be tweaked a pretty large amount I would assume.
The only other Move game I am even slightly interested in is Sports Champions and MAYBE The Shoot. There is no way I would be spending $100+ getting that for just three games.