I can't see it beating Halo 3. But it'll still be a beast in sales.
My guess is...
First week:
Japan: 70 000 America: 2.68 million Others: 890 000
Lifetime:
Japan: 150 000 America: 7.49 million Others: 2.71 million
But this is just a pessimistic guess. There's always the chance this will indeed outsell Halo 3 and it probably will, since I'm always wrong at these predictions.