Modern Warfare 3 won't be released this year, details revealed

A reliable source (with several very accurate leaks before) has said that "infinity ward" will not release cod:mw3 this year, not only that but he's given details of what is in the game. It will be a prequel giving the back story for how Ghost became a member of Task Force 141, revisiting locations from the previous 2 modern warfare games (so they can charge you again for old maps no doubt).
It has been alleged that Infinity Ward are creating a game that will focus on the character Ghost who first appeared in Modern Warfare 2, this game will centre around the events leading up to the war in Call of Duty 4: Modern Warfare as a prequel, and then further reveal how Ghost first became a member of Task Force 141 based on the comic book stories written by David Lapham. In various parts of the game that will focus on the life of Ghost - players will revisit locations from both Call of Duty 4 and Modern Warfare 2, but this time from a different viewpoint.

Although entirely a rumour - the game is meant to be in development on the Modern Warfare 2 engine. Robert Bowling (Infinity Ward's Community Manager) was contacted, but has neither confirmed or denied the rumours