Game Informer has learned through its network of industry spy pirates that Bungie's next release will be a Halo Xbox 360 project. However, as of now, it's not even called Halo 3.
In its customarily clever way, Bungie is not telling a lie - it's just not telling you the whole truth. A well-connected Game Informer source has seen this game up and running, and tells us that the project is dubbed Forerunner (and no, this is not an April Fool's joke). At this time the game is not being called Halo 3, which is perhaps how Bungie has been able to deny the existence of a title that literally bears the name "Halo 3." Of course, when all is said in done, the game could be officially dubbed Halo 3: Forerunner or some variation thereof.
The game is being designed around huge persistent worlds that will be created with what we're being told is a modified Halo 2 engine. "Big" is the operative word, and many aspects of the title will be affected by the large scale of the game. For instance, Forerunner will showcase four-player co-op in a move away from a strict linear single-player experience. Make no mistake about it, though, Master Chief is in the game, and gamers will play as him to drive along the story. However, the world itself and the events that draw from it will be more malleable to the player and the co-op friends that join in on the action.