Wouldn't it make sense just to release for Wars since it has all the improvements?
Yes, but it's still not going to happen. We've been announcing a Crysis-based release for more than a year, so there will be an MWLL release on Crysis. We will not leave those people who bought Crysis only because of MWLL out alone in the dark now.
If you release for both that just means more work and I think the community would be very strange split between two games...
We've been discussing this internally already and basically agreed on a strategy which takes all of this into consideration. That strategy, however, is not to be published at this point.
So much for now: those who bought Crysis for MWLL will get a release and the future will see a Crysis Wars version of MWLL as well.