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It's more likely than you think! According to a Russian MtG site, there is a card in M10 with the art seen to your left. They are calling the card Lightning Bolt, but there is no further confirmation as of right now. If this is indeed the case, it would seem Ball Lightning gets yet another boost. Bolt was THE iconic red burn spell back in "the day", and Shock and Incinerate have never really had the same appeal. In Standard, many things die to both Shock and Bolt so I don't see it being a big deal removal-wise. As far as straight burn goes, having Bloodbraid Elf, Ball Lightning, Bolt, Boggart Ram-Gang and maybe Flame Javelin (if you're feeling lucky) in the same deck will mean for some heinously aggressive Red Decks. I personally can't wait!
Good news for Red players, if this is true. Basically, post-M10 Red is looking really strong.
From today's latest development on magicthegathering.com: "We've tried to capture the magic of Lightning Bolt many times, often in ways that have different gameplay than the original. Cards like Shock, Lightning Blast, Barbed Lightning, Branching Bolt, Chain Lightning, and so on are attempts to make lightning spells of a lower power level than Lightning Bolt that have interesting game play. However, many players still wax reminiscent about the original, including those of us here in Magic R&D.; We love the name "Lightning Bolt" and we all have fond memories of playing with the card. Creatures have grown some in power level since Lightning Bolt was last in Standard; however, we've been happy with cards like Shock, Incinerate, and Volcanic Hammer for years. If Lightning Bolt were ever to return, it would be only after careful consideration and extensive playtesting."I'd say they've tested it and it's back in!
I simply don't get a positive or negative from that bit on mtg.com. As much as I want to believe, I'm going to simply withhold judgment until I see a real confirmation.