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Reasonable said:
Just wondering - what's the usual accuracy of Edge for this kind of thing? Do they often post rumours? I'm imagining that if they're willing to quote this they think it might be true, which is a lot different than some gamers blog for me.

Edge (fairly) correctly predicted the GBA SP and DSi before there was any whif of them.   This specific rumor though comes from the same source that leaked Gears 3 in April 2011 and it's public roll-out on late night television... seems pretty legit.