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dib8rman said:
It could be partly because it takes much longer to develop games now-a-days... at least a game like Diablo 3 I'd imagine it would take much longer. Diablo 3 was announced almost if not more than 3 years ago.

That, and that Blizzard loves to cancel games. They cancelled 2 announced games (Starcraft Ghost and that Warcraft adventure game), they also cancelled the Diablo 3 that Blizzard North was making (and then disbanded Blizzard North), and who knows what else they cancelled.