Source: British game-enthusiast site videogaming247.
What we heard: Nearly three years ago, Team ICO director Fumito Ueda told Dengeki PlayStation that his next project would be for the PlayStation 3. Just over a year later, a scan from the popular Japanese gaming magazine Famitsu surfaced that further confirmed that the Shadow of the Colossus developers were indeed working on a PS3 game.
Finally, this past January, Sony posted an official job listing confirming that Team ICO was hiring for an unnamed title for its now-resurgent console. The listing was accompanied by a cryptic teaser image (pictured) showing what appears to be a chain descending into some moss-flecked stone ruins.
Now, it appears the trickle of details about the game may give way to an info flood. Videogaming247 claims to have gotten direct confirmation from Sony worldwide studio head Shuhei Yoshida that the Team ICO mystery game will be unveiled "soon." Though the site didn't say how it contacted Yoshida, it does quote him as saying that Team ICO has "been working very hard since the  release of Shadow of the Colossus" on the game.
However, when asked directly if the game would be ready to show to the public at the Tokyo Game Show in October, Yoshida reportedly became politely evasive. "I cannot tell," he is quoted as saying. "Tokyo's more focused on consumers so we're still working on the intricacies," he said.
The official story: "It's just rumors and speculation at this point."--A US Sony spokesperson.
Bogus or not bogus?: Bogus that anything's been confirmed. Even if the Yoshida quote is legit, it's too little to go on. The 2008 Tokyo Game Show runs from October 9 to 12 at the Makuhari Messe convention center.