THQ released their financial results for Q1 last night, in it they mentioned that Devil's Third, Valhalla Games Studios third-person action romp, won't see the light of day until 2013 at the earliest.
Devil's Third was first announced back at E3 in June and is the first game to come from Tomonobu Itagaki's Valhalla Games Studios.
Details on the title are still fairly sketchy since it's quite a way off, however, it's due on Xbox 360 and PlayStation 3 and is a third-person action game.
Expect to see it sometime before April 2013.