Well there's a turn up for the books:

The series' creator, Hideo Kojima, has explained in a Famitsu interview that he's actually only fully involved with the PSP game, where he will be serving as director, producer and game designer. He describes Peace Walker as the "Metal Gear Solid 5 inside me."

As for Rising, Kojima-san will only be serving as producer along side Kenichiro Imaizumi, telling Famitsu magazine:

"I'm not the director. I'm not doing game design either. Although, I do issue complaints (laughs). But, not too much."

Nonetheless, Metal Gear Solid Rising is still described by Kojima-san as the "next generation Metal Gear Solid 5."

You know he'll poke his nose in all the time though because he's been trying to step away from MGS for years now and each time he stays on cause he doesn't want other people butchering his IP.

No, he said it'd still be stealth, maybe more Tenchu than Metal Gear Solid.

Not really a surprise. When he went out of his way to explain that he was directing Peace Walker, and it was a TRUE sequel, I couldn't help but wince a bit. You could fill in the additional, "You know, unlike that OTHER game."

I just watched the Peace Walker trailer and it looks pretty bad ass, I can see why Kojima would be making it as it will be a true MGS title as Rising is just a side story more or less. And also Love Pack.....WTF? That was the greatest thing is any trailer ever made ever lol.

Oh about that it being a stealth game, It was on either the Kotaku or G4 live blog, said something like it'll still be stealth oriented like all metal gears.

hm, hopefully it will be story-oriented and not just, kill all these bro's in under 5 minutes/

peace walker looks like one of the best plots of a metal gear game I've seen, in that I feel like I might actually be able to understand it.

Im shocked Thiago hasnt made a snide comment yet. I wonder if he's feeling well...

Might be a good thing for me, I really like the gameplay in MGS, but I feel I don't get enough of it in one game. Maybe it can change now. Change of style on a new console. As long as the gameplay keep's being good, I really don't care who is directing the game it self.

can't wait to play Peace Walker. 

My hype for Rising drops another notch :/

I wish Peace Walker was on PS3 or 360 :/

I still think MGS: Rising is sort of a retarded or special name.
you got like guns of the patriots  and snake eater  which is good subtitles, but rising?
Peace walker has a rad name though. Still getting both, for now...

I guess Peace Walker is technically the official MGS5. When the nuke goes off in the trailer at the beginning when they show the title it actually flashes a giant 5 before it goes to the Peace Walker logo. Kind of weird that Kojima would go to a portable for the next installment, Peace Walker would have been badass as a PS3/360 game. Plus I'd imagine it being on PSP would mean the gameplay is retroactive back to MGS3. Either way guess I'm going to have to pick up a PSP again for this, havn't missed a MGS game yet it'd be a silly time to start when they are covering a topic I've been interested in since MGS3, how Big Boss went from who he was in Snake Eater to Outer Heaven.