Apparently, I live on Mars as I wasn't even aware they were making a new Golden Axe, but there's news of some such that the PS3 version has officially been canned and the title is now a 360 exclusive. The game is going to make the cover of November's Play magazine and will supposedly be an action-RPG with a focus on mounted combat and will release in 2008.
I loved the original Golden Axe and was really pleased to see it on LIVE. Having a new game in the series will be fantastic if it turns out to be decent. Hope they include co-op...
Teaser...
... and the cover, ganked from eNe3.