Modern Warfare 3 is currently in development by Infinity Ward with assisted development from Sledgehammer Games and Raven Software. All in all, Modern Warfare 3 needs 3 development teams to get the job done; including all the MW3 weapons, perks, etc.
@xlalon Well like all direct sequels it made with the assumption that you experienced the first. Its not like Stars Wars Episode V did a long recap of Episode IV or Warrior Within has a long recap of Sands of Time; and the list goes on. If you want to experience a story you have to start from the beginning or play catch up. Also the direct tie is the main antagonist of this game is the student so to say of Zhakev the main antagonist of the first game and of course the main character from the first game is now your commanding officer. Anyway this thing is really looking more and more like a movie. That was a classic movie credit sequence right there and then they have things like dual weilding shotguns and such. The only man who can do that is my main man Arnold.
@xlalon - For one Captain McTavish that talks to your character "Roach" which you see in some of the other gameplay videos is the character you play as in MW1. That is a start. For the American campaigns it will most likely be new material, but I would suspect that you have Islamic militants that stage a campaign to attack US soil since you see fighting in DC and such. It isn't like it is going to be a stretch and the storyline ties will not be right at the surface of MW2 since most of the stories in the CoD series are drawn up from scratch (with some historical basis in the WWII CoD games). My guess is that McTavish will be one of the lone ties to the original game with new heads assuming control of the old factions in the game. I guess we'll just have to play to find out.
They did a real bad a job of doing a recap. Those who haven't played MW will still have to play it in order to get its story. I don't know how MW2's story will be connected to the first one.