Coming out Q3 2009.
Trailer:
Wikipedia Article:
http://en.wikipedia.org/wiki/HoI3
IGN Paradox Announcement:
http://pc.ign.com/articles/900/900558p1.html
Some Highlights:
10,000 Land Provinces - Wow. That's A LOT.
Research multiple parts instead of complete units - Sounds cool.
The AI can now be ordered to manage individual fronts, allowing the player to focus on fronts that interest him - Probably won't use it much, but it could be good, provided the AI is.
More than 150 playable countries - O.o 150...? That's a lot of countries...
The establishment of governments-in-exile, and rebel campaigns to retake a country - Nice!
Looking pretty good, thus far. Let's hope for the best!