I really hope they don't try to release Halo 3 on the day of the PS3's launch. That is just rushing the game and sacrificing its quality, just like they did with Halo 2, and to be honest I didn't like Halo 2 very much at all. They will probably only have about a year and a half to finish it by that schedule, and that is only if they have been working since they finished Halo 2, which I doubt very much. They probably won't even have time to make a very good engine (I think the current one needs some serious work, and just won't do very well for next-gen). And releasing Halo 4 by 2007?! That would be even more of a rush! Whatever happened to taking the time to carefully finishing up games, polishing them, and making sure they are released only when they are completely finished? Half-life 2 was about 7 years in the making, Valve was very patient in finishing it off, and even delaying it from 2003 to 2004 to make sure it was finished. The final product of Half-life 2 was just such a superb game and was the result of the developers taking their time, creating a whole new engine and client, and polishing it to something that is truly enjoyable to play. I cannot really say the same about Halo 2. It was rushed, pretty rehashed to me, and was not the result of careful planning by Bungie. This is one of the main reasons why I think Half-life 2 is much better than Halo 2. With Halo 1, however, it is a completely different story. Halo 1 was carefully developed, went through many changes (even a genre change if I'm not mistaken), and was a polished product by the time it was ready for the Xbox's launch in 2001. I thought it was one of the best launch titles of all time, and even more importantly, one of the greatest FPS's of all time, even able to compete with an ultra-high quality game like Half-life 2. All Bungie should do is take their time with Halo 3 like they did with Halo 1 (and like Valve did with Half-life 2), and they will probably have a game that is worthy of recognition and on the same level of Half-life 2 and Halo 1. If they, however, rush it, release it on the same day of the PS3 launch, and I think it would be even worse than Halo 2, which isn't a good thing at all. Don't even get me started on how Halo 4 would work out.
Sorry for such a long rant, but I thought it was about time that I spoke my opinion about the whole Halo situation. Basically, all I want Bungie to do is to take their time with Halo, and not rush it. Rushing a FPS is one of the worst things you can do and video game history has proven that again and again and again.
I'll just leave it at that.