More thoughts about the "secret project" involving Bioware and LucasArts:
1) The agreement for the project has just been signed, which means any release date is a long, long way away
2) We don't know what is the franchise in question - it could be Star Wars (most likely) , but it could also be Indiana Jones or a new franchise
3) Even if the franchise is Star Wars, we don't know whether the game will be an RPG - most likely yes , but Bioware might want to broaden its development portfolio
4) Even if the game is a Star Wars RPG, it might not be KOTOR
5) Even if the game is KOTOR, it might well not be KOTOR 3, but rather a KOTOR MMORPG
6) Even if the game is KOTOR 3, it will surely use a new engine and that may change gameplay enough to make it feel like a different game, especially if real-time combat is introduced as seems to be the trend now
7) Even if the game is KOTOR 3, it might be KOTOR 3 in name only to take advantage of the franchise, yet have a completely new story unrelated to the two previous installments, perhaps with only a couple of references (actually, I would not be upset over this one [nor would I be if it tied in to the previous stories])