Interesting article in the May 2011 issue of Inside Jersey - there's a headline on the cover that reads "Wildwood's $10 million ride," which certainly would catch my attention!
The article covers the Morey's of today, and also speaks of the future of the organization which includes the long planned wooden coaster that will span two piers. The $10 million ride is scheduled for a 2013 debut at this point. It is pictured above, but I had to combine two images into one and while not perfect, it gives a nice idea of how the ride will fit in with its surroundings.
Designed by Great Coasters International, the article mentions that both "Wildwoody" and "Boardwalk Flyer" are favorite names being considered by the Morey's. Whatever it's called, it'll have me making a trip to Wildwood in 2013, that's for sure.