Halo 3 on the horizon?

Gamespot is carrying a story that Bungie's current project, which everyone expects to be Halo 3, is highly polished and playable in it's current state.

Microsoft was quick to mention that Halo 3 would be ready to steal the wind out of Sony's PS3 launch sometime next year, but when that ends up being is anybody's guess.

Logical thinking tells us that it has to be Halo 3, but will Microsoft sit on that game upon completion and lay in wait for the PS3 launch? My guess is that they will if they are smart. The Halo franchise is like a golden egg. It keeps getting better and MS knows that. If anything can keep the PS3 launch from being on all the headlines then Halo 3 is it.