@Cypher

Actually it was unveilled at E3 07. E3 05 and E3 06 had the Vision GT trailer, which was not GT5.

as someone who is studying programming, let me tell you that before the coding you need to design the program first, you cant go to a computer and just Magically start inputing codes.

but yeah, GT5 has taken way too long, but i was never waiting for the game anyways, i am more in to arcade racers.

GT5 - Development

The game was first revealed at E3 2006 under the name Vision Gran Turismo. In an April 2008 interview, game creator Kazunori Yamauchi revealed that 150 people had worked on Gran Turismo 5 for three years, with all of Polyphony Digital's 120 employees working on GT5, and the game costing 50 times more to develop than 1997's Gran Turismo.^[4]

http://en.wikipedia.org/wiki/Gt5#Development

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So I guess it is 5 years after all The April 08 interview by Kaz Yamauchi shows development for GT5 started April 05.

You notice its always very low post count members (usually less than 10) that come up with these "realizations" 

http://uk.ps3.ign.com/articles/891/891903p1.html

Kazunori Yamauchi's interview to IGN after E3 08. He clearly specifies that they weren't focused on the development of GT5 full game so far, that the team was involved on GT5:P

Kazunori Yamauchi appears to be one confused puppy.

If you ask me he's massively back pedalling in the second interview maybe for being "too honest" or "off message"

To quote the article of April 08

In the interview, he also explained that new game GT5 - the Prologue demo-style version of which is currently the UK's bestselling game - had been in the works by 150 people for four years and has cost 50 times more to make than the original GT1 on the PlayStation.

His interviews always come off as being confused.
I remember one that he gave to the defunt EGM about GT3 in which he stated that the game would have double the amount of cars that GT2 had, but instead what he wanted to said was that GT3 will have double the amount of tracks.

I think he's just Kaz being Kaz. Drawing attention to GT. But as I said before, GT5 hasn't been in development for over 5 years. People have been waiting 5 years because a new GT is always something to look for, but personal expectations are just that and aren't reflective of what is in reality.

I'll bet if FFVII ever gets a remake we will have the same amount of threads "OMG, 12 years waiting for a FFVII remake, S-E sucks!!!!"

Lol, kinda figured this was an alt account.

Loool, I thought that myself, but normally alt accounts are always "cracked" when applying a little bit of logic :P

I reckon some of the confusion comes about through poor or lazy translation.

If something he has said appears in English then you need to take it with a large pinch of salt as it will have been translated at some point.

Heck maybe several times.

Possibly a case of Japanese whispers ?