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Hey, there was a thread on the BigD forum, so I went digging and found more, So if you haven't seen or heard anything on ARMA III take a look.

ARMA III

Prague, Czech Republic 19th May - Bohemia Interactive, the award-winning independent Czech development studio, is pleased to announce the development of Arma 3, the brand new installment in its series of critically acclaimed realistic military simulators.
Combining over 10 years of experience, building upon the strength of its predecessors, and set in the most detailed environment of the series to date, Arma 3 offers gamers radical engine improvements and a unique sandbox-style military gameplay experience.
The next chapter of this stunning military simulation game is scheduled for release exclusively for PC in Summer 2012.

    SURVIVE in the rich & authentic environment
    ADAPT to the unsurpassed experience of modern ground combat
    WIN in the open-ended & story-driven campaign


Storyline

Survive, Adapt, Win
After years of intense warfare against Eastern armies, Europe has become the last stand for the battered NATO forces. On the verge of being driven into the sea, NATO command embarks upon a most desperate measure. In the hope of seizing what seems to be a well-guarded military secret, Operation Magnitude is launched. A small group of Special Forces and Researchers are sent to a Mediterranean island deep behind enemy lines. However, the mission is compromised and the task force destroyed, leaving Cpt. Scott Miller washed ashore upon the hostile island. In his effort to carry out the mission, he will face the dangers of modern warfare, an unforgiving environment, and the consequences of his own decisions...

Combining the strength of its predecessors with radical engine improvements, Arma 3 provides a unique experience of sandbox-oriented combat gameplay in the most detailed environment of the series.

Key features:

    Single-Player Campaign - Evolve from a lone prey into a military commander in the open-ended & story-driven campaign.
    Vehicles & Weapons - Control multitude of aircraft, vehicles and ships with the accurate simulation, shoot from anything from pistols to the sophisticated weapon platforms.
    Customizable Soldier Load - Choose your uniform, assemble your weapon kit, change your loadout, get encumbered.
    Physical simulation & improved animations - take advantage of PhysX™ supporting the vehicle simulation, in-game interactions and the revamped animation system.
    Rich & authentic environment - Explore the unsurpassed modern ground combat experience set on the authentic Mediterranean island modeled from the real geographic data.
    Multiplayer Gameplay - Challenge both cooperative & competitive scenarios with full support of dedicated servers for both Windows and Linux.
    Completely extensible & moddable - Design & create countless customizable scenarios using the intuitive & easy-to-use mission editor.

Bohemia Interactive´s CEO, Marek Spanel, explains: ''We're happy to bring the next generation of the Real Virtuality engine to life. The increased potential of the engine should allow Arma 3 to become our best-looking, most detailed and innovative military simulation game to date.''

Ivan Buchta, Creative Director of Arma 3, adds: ''Our ambition is not only to deliver the next generation of Arma with the improved engine, but also to fully exploit the potential of our new
technology in the gameplay. You can look forward to the unique experience of blending sandbox-style combat with a rich story.''

In-game Screenshots

Source: http://www.bistudio.com/index.php/english/games/arma3