Hasn't he said repeatedly he didn't want to make BG&E 2?  I know it was set to be a trilogy, but after the bad sales, he seemed hesitant to do the sequels.  He was quoted as (basically) saying "Ubisoft will essentially let me do whatever I want, and that includes BG&E 2/3, but I don't really want to."
Great news if true.  Though I will echo the idea that if this is PS3 and/or 360 only, I might need Wayne Brady to  choke a bitch.