Guys, it was Team Bondi who were supposed to develop 3 PS3 exclusive titles, one of them being L.A. Noire.
http://scrawlfx.com/2009/06/team-bondi-working-on-up-to-3-playstation-3-titles
...and SCEA were supposed to be funding these projects. However, it went quiet, and then the rumor arised that Sony is no longer funding these projects. Sources say it was because the Team were unable to meet deadlines among other things. I don't think the game will ever release, tbh.
Now, in response to the OP, is a PS3 exclusive GTA5 possible? Well, unless RN and Take-Two are willing to sacrifice revenue to take advantage of the PS3 hardware and BR space (just like Agent), then the answer is no (and given 2T's history, I doubt it). RN did say though that the DVD space is really hindering them.
@DirtyP: True, but you're not taking into account the number of multiplat owners and the PS3's price point now. Profits won't be as high as they possibly could be by limiting the game to one platform for sure, but it can still be quite profitable.
@Scoobes: I was thinking the same thing.
Rockstar: Announce Bully 2 already and make gamers proud!
Kojima: Come out with Project S already!
