Thanks to o_87 from Games Hangout for the heads up.
The master himself has spoken, confirming the obvious - work is underway on MGS3 as we speak.
On Japanese TV recently, Hideo Kojima - creator of the Metal Gear Solid series - confirmed that he is indeed working on Metal Gear Solid 3. He also stated that it will get its first showing at E3 in May.
Kojima also revealed that he is currently looking into the possibility of a MGS online title. What isn't known, as yet, is what consoles will get the new Metal Gear game/s - Kojima-san wasn't prepared to spill the beans on that one.
Confirming MGS3 may sound like stating the obvious - but good news is good news however unsurprising it may be. So, Kojima mate - nice one.
News source: Gamesradar.com