Went to a thread here on this forum and saw someone post this picture of what seems to be a Halo game with a TPS aspect.
If this is real then I can't wait it looks amazing for a title early in progress.
Also to give you guys a reason why 343 Industries is a team to keep eyes on is because of the number of professional people who are experienced from AAA titles working there.
First Frank O'Connor, he was the brain and soul of the Halo CE and Halo 2. He oversees the fiction and story elements. Other people have moved to 343 Industries from Bungie. There's a reason why Bungie and 343 Industries are close friends.
There's then Corrine Yu. She is very well known in the gaming industry as the female version of John Carmack in Engine Archetic or in other words very smart graphics maker. She also consults Nvidea for their chips design. That says something about how smart she is. Research her you will be suprised.
There have been some top people from Gearbox have moved over. They of coursed worked on Borderlands, Brothers in Arms, etc.
20 people from Pandemic Studios are now employed at 343 Industries.
The co-producer of metal gear solid 4 is over at 343 Industries.
With all these and more employs their project is picking up steam. They are currently hiring even more people. This is going to be a BIG in-house studio.