If there's one thing Valve excels at, it's making us wait. If you thought the wait between Half-Life 2 and the episodes that followed it were long, expect to wait even longer for the third (and final?) episode in the continuing adventures of Gordon Freeman. Valve's marketing man Doug Lombardi tells Kikizo that Episode Three is going to be longer than the wait between every other entry in the series—longer than the wait for Episode One, longer than the wait for Episode Two.
That means we should expect at least a 19 month down time between the second and third episodes, putting the release of Episode Three no earlier than May of 2009, if our calculations are correct. Fortunately, Lombardi hints that Valve "may at the very end of the year" show something on Half-Life 2: Episode Three, after Left 4 Dead goes out the door and sells a bazillion copies.
Interview: Valve's Doug Lombardi [Kikizo]