twesterm on 19 October 2009
I doubt it, Killzone 2 was released early 2009. We won't see Killzone 3 until early 2011 at the earliest.
-edit-
Yes, they have the engine, but it still takes a lot of work to make the game. A two year dev cycle is pretty much standard and any AAA game will at least have that if everything goes *perfectly*.
