A friend of mine just told me that Gears 3 is coming out on the next generation of consoles. Can anyone verify that we might not be getting any closure (or at least a sequel) for a matter of years?? Link if you can.

I have not heard of such a thing.

Why not ask this friend for a source? GS, GB, Joystiq and Kotaku have said nothing to the best of my knowledge, so I don't know where that idea is coming from.

I heard this too, and I'll try to find you the source, I believe it was on one of the major blogs (1up, Destructoid, something like that)
 
*Edit* Here ya go, http://xbox360.ign.com/articles/102/1028443p1.html

Mike Capp's said it. 
 
And so he's an idiot. There's NO EFFING WAY that MS will let their 2nd biggest franchise sit on the shelf for 4-5 years. Because we all know that these latest HD consoles will be freshed through software, not hardware, for a long, long time to come. We've reached the point of diminishing returns where a new hardware config will offer very, very little. 
 
Unless... 
 
GASP!! 
 
NATAL RELAUNCH 
 
NEW XBOX NEXT YEAR 
 
GEARS OF WAR 3 NATAL EDITION PACK-IN LAUNCH TITLE YEAHHHH!!!

Ugh, I'm not ready for another console.

" Ugh, I'm not ready for another console. "

" Ugh, I'm not ready for another console. "

Hell I JUST bought a PS3 (slim), I'm right there with ya.

Also, jukez thanks for the article, it actually gives me a little hope.