It's not new news. MS said at E3 '10 that we'd be seeing tech demos in '13 at the earliest, which indicates a '14 release. The rumors started with something a Crytek rep said, I think, and everbody hopped all over it. --- Everything's better with zombies. Except pie.
This generation has aged first, despite being a massive improvement over last gen. All games released today hardly look better than their prequels and if they do it comes with framerate issues. Definitely expecting 360-2 in E3 2012 and maybe even PS4. --- http://i35.tinypic.com/2qd27na.png