Peter Molyneux, speaking to Eurogamer, dropped some interesting hints about what the future might hold for the Fable franchise.

"Whatever happens in the future of Fable, I don't want you to think you know exactly what features are going to be in there. Don't think about this as an RPG franchise --think about it as the world of Albion. There's a niche for Fable as there's humor in there and there's a Britishness and I think we'll keep that side of it. But whether it's more action or RPG or MMO or some new genre--that's what we have to do."

What type of game would you want to play in Albion? I'm pulling for a Civilization type game focused on the real-estate aspects of the franchise.

In addition to that, Molyneux spoke briefly about his new game, which might be revealed at E3 2009. He remarks that he's ready to tell the world, but that it isn't up to him. Microsoft is the one calling the shots on this reveal. Molyneux has been showing off the project internally and Molyneux claims to have received "probably the best reaction I've ever seen to anything I've done."

http://g4tv.com/thefeed/blog/post/694484/Molyneux-Next-Fable-Might-Not-Be-An-RPG.html