As these things go this ranks right up there with the constant rumors about iPhone evolution. According to Joystiq a rumor is going around that has Gearbox developing Halo 4 for launch with the next-gen XBOX 720 probably somewhere around 2012. Supposedly there is more in the October issue of OXM but some interesting evidence is being thrown around.

First, Gearbox headman Randy Pitchford is quoted as saying they have a new project that’s going to be big.