To be honest I won't believe unless we go into next yearbwith no additional info. Reasons being:
1) everyone assumes this game has been in full development since its reveal in 2006, but that trailer was simply a concept trailer. Their was no actual game at the time. Nomura himself stated that the game only entered full production in 2010. Before the team were splintered helping finish XIII. So people who had previously assume something was wrong because of the lengthy development cycle were in fact misinformed. Most massive world games usually enter development for 3 or more years, excluding planning, by that logic one would expect versus XIII to be released late next year.
2) The second reason I doubt this is because we have already seen very functional gameplay essential mimicking kingdom hearts and behind doors even more has been shown, including sprawling maps and cities. The fact is so many assets have already been invested in this game, I see no reason why square would cancel it.
It may be canceled but contrary to what everyone else was saying, I would be very surprised. I hope square learned from this. Don't announce games the minute they've been green light and actually wait until the game is 60% complete or more.
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