Yep, you are 100% correct. Kotor 2 already exists.
And I hope for something completely new from obsidian and not KOTOR3, it would be nice for them to create WH40k RPG or WHFR RPG though.
Yeah, something "completely new", by making a WH40K game...riiiiiiiight.
Back to Kotor: Kotor 2 sold very well, so I don't see why LA shouldn't do a deal with Obsidian again, sometime in the future. Right now they're too busy on focusing on TOR, and probably another in-house project. After all, LA only chooses a limited amount of deals with developers because every SW project needs a lot attention and support from LA. Maybe LA just doesn't currently has the free ressources to support both TOR and a Kotor3? Maybe after TOR is done, we might see a KOTOR3 from Obsidian? Sometime by 2015 for Xbawks 720 and Playstation 4 perhaps?