Well, it may not be this year, but at least it isn't too far off.
During Konami's pre-E3 press conference, the publisher showed off a new Metal Gear Rising: Revengeance trailer, and then confirmed the Platinum Games title was slated to launch "early 2013."
A lot of changes have occurred during this game's development lifespan; it was actually shelved at one point before Konami tapped Vanquish and Bayonetta studio Platinum Games to finish the project. At that time, the time frame was moved (from before the events of MGS4 to after those events; prequel to sequel, ya know?), and any possible stealth elements disappeared. …Platinum doesn't do stealth. And to avoid further confusion, the original name of "Metal Gear Solid: Rising" was changed as well, because it's technically not part of the "Metal Gear Solid" stealth-oriented franchise.
At any rate, the ongoing saga should come to an end in the first quarter of next year. And we really can't wait to see what a collaboration between Kojima Productions and Platinum will be like…
Related Game(s): Metal Gear Rising: Revengeance