I'm fairly excited, but a little sad about Path of the Trailblazer being introduced here and not in Z3. Won't complain too much about a new SRW game though!
My feelings exactly, although Trailblazer has such a simple plot (aliens appear, stuff blows up real good) that it's easy to slot into most any SRW. I predict it's going to eventually become the Endless Waltz to 00's Wing TV in terms of inclusion for that reason. We'll still undoubtedly get it in Z3 with the story fully building on the previous appearances.
Also, seeing Dunbine again is nice (can we please get L-Gaim next time?), more Fafner is nice and now we've got Demonbane which people have been hoping to see for a while now.