IGN reports the release date was announced at THQ's Gamers' Day event held in San Francisco. The official Saints Row 2 website is now up and blinged to the nines with ghetto fabulousness.
Late August seems like enough breathing room between SR2 and GTA IV to give the game a chance. Then again, depending on how over-the-top Saints Row 2 ends up being, it could carve out its own niche. We're just looking forward to some co-op play, because you gotta have friends to survive in the ghetto ... and a pimp hat, yeah, we're gonna need big pimp hats.