In a recent interview at Gamesutra, Sam & Max creator Steve Purcell (currently working for film animation studio Pixar) expressed that he would like to get back into games development: "Would I get back into games? Sure. The [Sam & Max] license is back in my hands now so we'll see what happens in the near future."
Whether this means we'll see a resurrection of the brilliant rabbit and dog duo after LucasArts canned the planned sequel remains to be seen, but there's no doubting the rights are in the hands of someone who loves the original, given Purcell birthed the comic book series which the game was based on.
Purcell has also worked as an artist on Zak McKracken, Indiana Jones and The Last Crusade, The Secret Of Monkey Island, The Secret Of Monkey Island 2, Loom and Pipedream.