Well, kinda.  He’s actually only working on three actual new games, and one that’s kind of a remake.

• Metal Gear Arcade: Essentially, Metal Gear Online that you can play in an arcade.  It’ll also incorporate the use of 3D glasses, which’ll probably get pretty yucky quickly from all that use.
• Metal Gear: Peace Walker: Revealed during Sony’s Press Conference yesterday, this PSP-exclusive game takes place 10 years after Metal Gear Solid 3 (the one where you played as Big Boss), except that you play as Solid Snake in this one.  I think.  So it’s kind of a prequel to Metal Gear’s games, and kind of a sequel to Snake Eater.
• Metal Gear Rising: I mentioned this one earlier as being mentioned during the Microsoft E3 Press Conference, but it’s also coming for Ps3 and PC.
• Castlevania: Lords of Shadow: Not too much is known about this one.  Apparently a trailer was shown, with a protagonist named Gabriel with a whip/knife called the Combat Cross.

Dude’s gonna be pretty busy!  I’m most excited about Castlevania.  It’s been WAY too long since there was a good one.  WAY too long.