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If you assume that it started development soon after God of War II was complete, and that like many PS3 games it will take 2.5 to 3.5 years to complete, God of War III would be released sometime between July 2009 and  July 2010. When the game is not going to be released for at least one year it seems foolish to show it off at a "gamers' day" when the focus tends to be on playing games that will soon be out ...