Jaffe also suggested that his studio's current project is unlikely to be revealed during E3. "Sony has not asked us and given it's 3 weeks away, my guess is u r correct: no Eat Sleep Play game at E3," he tweeted, busting through his own expectations from last year. So, he's presumably working on a car-based game, but it's not Twisted Metal ... uh, the Indiana Jones (mine) kart racer we've all been waiting for, perhaps?
Update: David Jaffe told Joystiq via email this morning, "As for my Twitter, I stand by what I said: we are not making a new Twisted Metal altho [sic] I think doing one WOULD be fun...but we simply are not. Also a game by Eat Sleep Play will NOT be at E3 2010. I can't speak to what we ARE working on because it's not my place to."
Update from E3 2010: What David Jaffe meant to say was, "We are making a new Twisted Metal. A game by Eat Sleep Play WILL be at E3 2010."