Yeah, it's being distributed by EA, but Red Eagle is still in charge of making it. Some people think that's a bad thing though. Red Eagle is also the company in charge of the movie. That's pretty much all the info there is right now.
even tho i dont expect the game to be as good as world of warcraft i think im going to enjoy it a lot more simply for the fact that its wheel of time :) it will be nice to be able to travel to places from the books to see how they visualised them
True, but this isn't a case of "they're halfway done when they tell us about it." They haven't even started production of the game. I don't know if they've even contacted anyone(with experience making games that is) about developement of the game.