It seems Retro Studios may be still be in dire straits and may very well have halted work on its RPG project, Raven Blade. That’s the indication from games industry rumor site Fatbabies at any rate. Check it out:

Rumors are surfacing that "The Rare of North America" are dropping, halting, and generally fucking off their RPG game, possibly in favor of Metroid. Excellent work - that's $40 million dollars and three years spent on one game that still isn't playable yet? Looks like that old Ion Storm magic is rubbing off on Retro - "The Rarely Published of North America."

You may have tracked some of Raven Blade’s troubles in our Metroid preview, which in its 5/9 update printed the venting of a Retro employee in lieu of layoffs:

“These worthless programmers got FIRED because they have held up the progression of this LAMEASSED RPG game. It's only a matter of time before Nintendo shitcans RPG and tries to recoup their losses from Metroid.”

Now it seems this very well could be happening.

For what it’s worth, what was shown of Raven Blade at E3 looked very promising, although only very little was shown.