Leaving aside the issue of Unreal Tournament for the moment, did everyone read the actual financial news regarding Midway? They're planning on taking a HUGE beating this year:
The Company now expects third quarter revenue of approximately $39 million, as compared to the Company's previous estimate of approximately $50 million, and a net loss of $0.33 per basic and diluted share, compared to the Company's previous estimate of a net loss of approximately $0.23 per basic and diluted share.
For the year ending December 31, 2007, the Company now expects full year revenue of approximately $170 million, as compared to the Company's previous estimate of approximately $225 million, and a net loss of $0.85 per basic and diluted share, compared to the Company's previous estimate of a net loss of approximately $0.44 per basic and diluted share.
In short, Midway is estimating that their revenue will fall $11 million short of their own previous projections, and a whopping $55 million (!) under their numbers for the year as a whole. It's impossible to calculate their total shortfall without knowing the amount of stock they have out there, but MAJOR losses for the company seem unavoidable. The news more or less warns that losses will be double what was previously projected (going from a loss of 44 cents/share to 85 cents/share). Forget the marketing spin: it's going to be a bloodbath this year for Midway. 
Some of our posters called this months in advance, given the stupidities associated with Strangehold ($30 million budget, releasing ONE week before Halo?!?!), so it's not exactly a surprise, I guess... but still a bit of a downer. Very few gamers seem to be aware of just how badly most third-parties are doing financially right now. Atari is on the verge of bankruptcy, Take-Two is still trying to recover from self-inflicted wounds, Midway is faltering badly, and even industry stalwarts like EA and Square are seeing significantly lower profits than in previous years. I would be worried about some of these companies if I were a fan of their games.
End of 2008 totals: Wii 42m, 360 24m, PS3 18.5m (made Jan. 4, 2008)
