Actually, Obsidian doing Kotor3 could be a good thing. I certainly would want Bioware to do it, but they're busy with ME and other projects. This could be Obsidians time to shine, to really step it up a notch, not doing some half-assed sequel with an engine already in place for them to modify. If they get more freedom and resposibility it could actually turn out well.

KOTOR 3 awesome..

Didn't said SG that KOTOR 3 was in pre production by Bioware?

Obsidian has been saying they want to make kotor3 for quite a long time now (basically from the release of kotor2), this isn't news.

Meh, KotoR II would not have been a terrible game except for the fact that there were so many bugs. I eventually encountered a game stopping bug about 2/3 the way through made me quit the game to never touch it again and left a horrible taste in my mouth. I really doubt I'll give this one a try.

I'm fairly pessimistic about this one. I loved everything Black Isle had a hand in, and Obsidian's work generally looks pretty good, but they completely failed with KOTOR2. The Revan/Exile plotline is pretty much concluded anyway, and I can't imagine how they're going to try to continue it. I would be much, much more interested in an entirely new game based on a custom setting, like Mass Effect.

KOTOR2 could've been good if it hadn't been so damn rushed, so maybe if they're given enough time to work on it...

Obsidian is not an unknown dev to PC RPG fans.  This isn't a brand new studio that just appeared this year, it made KotOR 2 and NWN 2.  Those aren't exactly bad titles to their name (though KotOR2 shouldn't have been rushed by Lucas Arts).  Heck, it's made up of a lot of ex-Black Isle developers.

Obsidian is practically Bioware Jr. only with less talented story/script writers.

Woah....

so much HATE for KOTOR 2

I really like both the games TB Very H....

 I hope for you that that project you are working on will have no bugs like that .

 Every project has bugs but ones like KotoR II had were unacceptable, so yeah, I hope so too.  :p