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They will be working on Halo and Halo alone.

Microsoft want to turn it into a Yearly franchise, because its the biggest money maker they have for Xbox and they have seen how CoD performs on the 360.

I fully expect 343i to grow to the size where they can push out a game Yearly alone or collaborating with other devs (Like with what Spartan Assault is). They are probably big enough now to do this efficiently, though I expect them to grow.

2009 - Halo Wars and Halo 3: ODST
2010 - Halo: Reach
2011 - Halo: Combat Evolved Anniversary
2012 - Halo 4
2013 - Halo: Spartan Assault (And maybe more)
2014 - Halo 2 Anniversary? Halo 5?

The strategy is clear to see.