As a Gears of War fan I was happy to see them coming out with another game. This game goes back 15 years before Gears 1 and instead of centering around Marcus it focuses on Baird and Killo Squad.
The new multiplayer mode also looks interesting. It's a defend and attach mode with the COG defending and the Locus attacking. The COG are class based with a scout, engineer, medic, and soldier.
I haven't seen a solid release date but it looks like it will come out sometime in 2013, most likely in October or November.