According to OPM UK, a new Timesplitters game is already under development by the guys over at Free Radical. Though the team is currently wrapping up the timed PS3 exclusive Haze, supposedly work has already started on a next-gen version of Timesplitters's unique brand of monkey and fire fueled mayhem. The best part is that the game is suppose to be a PS3 exclusive, and a real PS3 exclusive unlike Haze.
While this is fantastic news, it was reported by a user on the EU PlayStation forum who said he had read it in the most recent copy of OPM UK, so this is still firmly planted in Rumorville. There is some circumstantial evidence that lends credence to the theory though. Free Radical has expressed an affinity for Sony hardware in the past and even recently in interviews with their top developers. Also Ubisoft hinted that they were working on a PS3 exclusive a couple months ago, and even though a lot of people thought that Haze was that title there have been a lot of rumblings that it was something we hadn't heard about yet.
So who knows, this might be one of those fun rumors that actually turns out to be true! It would make a lot of people happy and would be a nice exclusive feather in the cap of the PS3. There's something that's just so magical about setting a screaming Gingerbread man on fire while running from a pack of rabid Snowmen with machine guns ...