Remedy should be making this game, they created and wrote everything from the beginning of Max Payne, no on else knows it like them, no one else will do it right.
The story should happen shortly after the events of Max Payne II, while Max is still young, and it should definitely take place in the irreplaceable New York City in that unique gritty Max Payne noir style graphic novel story telling method, which is so great.
And also they should make sure the same people from the first 2 games do all the voices for any character that also appears in Max Payne III, and I hope there are several.