This. This is why I love PC gaming. That in 2009 there's a market big enough to justify a fifth game in a ruthlessly authentic series about captaining Nazi submarines.
Ubisoft officially announced today (though we've known about it for a little while now) that Silent Hunter 5 is in development, and will be out Q1 2010. It's being developed by Ubisoft Romania, and in addition to the series' trademark underwater action will also let you switch to a first-person viewpoint and wander about the ship.