I wouldn't be surprised if 'Episode 3' turned/turns into Half Life 3 somewhere along the way. They've been very quiet about Half Life for a very long time. I know they keep saying their employees get to choose what project they wanna work on, but you have to figure that a decent chunk of them would decide to stick with Half Life - widely regarded as a genuine classic franchise in video game history - rather than become part of a production line churning out L4D content.
It's surely been far too long for just another 3/4 hours of content slapped on top of the source engine? There was ~ 1 year between E1 and E2 release. If E3 came out next holiday that would be ~3 years since E2 release.
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