Assassin's Creed 3's Creative Director Alex Hutchinson isn't too keen on fan suggested settings for the series. Speaking to OXM UK recently, he said "People on the internet suggest the most boring settings. The three most wanted are WWII, feudal Japan and Egypt. They're kind of the three worst settings for an AC game."
No further elaboration was given, but thoughtful insight none the less.
I'm typically less than impressed with Assassin's Creed games, but I'm quite taken with the American Revolution setting AC3 call home too. I maintain my opinion that Feudal Japan is a silly idea (Hutchinson seems to agree.) because I feel like that's basically a request for a Tenchu game of which there are plenty. On the flip side, I'd love an AC set in WWII, in Nazi-occupied France; great opportunity for a female main character there.
I should mention Hutchinson doesn't hate all fan suggestions though.
"[Assassin's Creed 3 writer Corey May] really wants to do India. I would too. I'd really love to do the Raj."
You Bollywood fans have hope yet!