To be honest, I much rather see 2D.
Because it dramatically shortens the time between art creation and implementation, requires the art to pass through fewer sets of hands, makes iteration easier, and as a result helps to reduce the re-use of assets. Constant re-use of assets due to the time-to-implement associated with 3D can really detract from the atmosphere of a game.
On a purely developmental level, it makes a lot of sense. Take a look at how 2D artwork, combined with the early implementation of functional 'stand-ins', allowed the Crimson Steam Pirates art team to spend time iterating designs and easily gauging their quality. They could import their art personally and see it immediately in-game, rather than waiting for modelers or scripters to act as intermediaries. This meant that level designers, scripters, coders and other team members could continue work, while the art team could devote their time to rapidly reworking assets until they were just 'right'.
For more on why 2D is a particularly good choice when working on a tight budget, or requiring a lot of content, see this fascinating reference for the above: http://goo.gl/VlutaBrief disclaimer: I'm in no way suggesting that Wasteland be top-down like CSP. That should be obvious. I'm talking about their development approach.
As for the problem of asset re-use, take a look at Fallout 3.I know it's an FPS, and that 3D encompasses more than first person - that's nothing to do with my point.
Every TV in the wasteland was the same brand, had the same shape, and was the same size. Look further and you find that every plate was the same, every filing cabinet the same color, etc. The same doors were cobbled together with the same sheets of scrap, and used over and over again - amazingly constructed by different people using exactly identical pieces of roof cladding.
Now compare that to something like Torment, in which there was much less asset re-use. While you did still see some items used more than once, there was far, far greater variety in the world furnishings, set pieces, and bric-a-brac.
Ultimately when you have a small budget like Wasteland, 3D requires a trade-off. Either you: 1)
Decrease the variety of art assets in the game world or, 2)
Decrease the number of art assets in the game world
Essentially you have less content with more detail, or more content with less detail. Using 2D the ratio is potentially kinder to both - especially where money is tight.
I'm sure that Fargo, InXile, and Chris will make the right choice based upon their small pool of resources... But I really hope that we don't end up with a copy/paste world just because people expect 3D.