A lot of people are thinking Killer Instinct, but they keep emphasizing the word "historic." Also remember in the conference they mentioned lifting up the new controller to use as a "shield."

I think the game is Wizards & Warriors.

Wizards & Warriors (Acclaim/Rare - NES) 1987
Ironsword: Wizards & Warriors II (Acclaim/Rare - NES) 1989
Wizards & Warriors X: The Fortress of Fear (Acclaim/Rare - Gameboy) 1990
Wizards & Warriors III: Kuros: Visions of Power (Acclaim/Rare - NES) 1992

Plus we have a potential pic of the Rare game for Xbox One which appears to show a knight who is probably "Kuros" (see game next to Halo):

;-) Credit please.