With Infinity Ward being dumped by Activision I'd say it's unlikely we'll ever see it.Tarrok said:Just wait until MW3
However this article...
http://www.next-gen.biz/news/infinity-ward-not-developing-modern-warfare-3-%E2%80%93-report
...says that IW have handed over the MW3 torch to somebody else. Whether MW3 will ever become a reality, I guess we'll just have to wait and see.
(I'm allowed to post links to other sites, right?)