Valve hasnt been a gaming company for years. Its steam. People think they are toiling away at HF3 and they are not, i bet they have done zero work on it. Thing is, none of these valve fanboys seem pissed off they they made ep 1 and 2 yet cancelled ep3. They have canned it, though those fanboys think they will make it even though Valve said they are not going to. They fucked over the fans as the fans bought 2/3 of a story that valve canned. No one moans about it. HL3 may happen in the future, am expecting it to be an ok shooter like HF1 and 2. Same as ep1 and 2 were linear shooters. I played them all, mediocre game play but amazing well done backgrounds that are really immersive.
The one thing i can say, atleast if they are not making a HL3, its because the story and idea isnt good enough for them to bother making it. So i am happy they dont milk their franchises. For me, i would rather have a Portal 3 than a HL3, though Valve have a bad thing with 3's.