Predict that Valve will unveil Half Life 3 (hopefully not episode 3) at this E3 so they can unload there valve delays. So while i predict that we wont see this game until early-mid 2013 after being announced for 2012 end of year, i believe valve will announce Half life 3 at either EA or SONY's press conference.
At SONY's to showcase more of the PSN-Steam connection, or at EA because EA is Valves console publishing partner.
forget project Cafe, we know that Nintendo is going to either unveil an console or not, and its either an WiiHD or an HD console of next gen. Valve will make the biggest suprize by announcing this nerd gasam of an series its final concludion.
There main team has to have been doing something these past heading to 4 years. So an Half Life Epic 3 is required and making an valve epic of half life 2 proportion, showcasing source engine 2 is going to take lots of time. So announcment maybe for mid 2012 but delayed to end of 2012 then delayed to early 2013 then to mid 2013 is my call.
Of Course That's Just My Opinion, I Could Be Wrong