mass effect 3 was confirmed after the first one came out.
Bioware has always planed this as a trilogy and mass effect 2 even says int he loading screens, hold onto your saves for mass effect 3.
As far as a release date goes. I think we may get a teaser trailer at E3 this year, for release sometime during 2011.
personally i think it'll be fall 2011. Teaser at E3 this year (big maybe) and most likely a full trailer by E3 2011.
As far as the first info. Again, E3 which is in june, to fall of this year.
i think its going to be bigger than ME2..in size i mean. and will probably be the conclusion to the series.
I'm probably just repeating what's already been said, but there's been an interview where a member of Bioware stated that the story for ME3 was being pinned down towards the end of the development of ME2, or, at least before it was released.
He also stated that they want a quick turnaround for the third game, that they had planned for the trilogy to be released within the life cycle of the 360. So the rumours for early 2011 seem pretty reliable. Then again, rumours are just that until confirmed. Either way the gap between the release of ME2 and 3 will definitely be shorter than that between ME1 and 2.
There'll definitely be something at E3 this year though, or one of the other major gaming conferences. I'll try and find the interview.
not a rumour but a fact. according to Wiki: Casey Hudson who's the Project Director for Bioware states that players should hold onto their save files because their decisions in ME2 r going to influence the game in ME3(in not so many words...but that's the gist of it). in an interview she also says that work is already underway on ME3.