News about FC3 are very rare, so I searched some new staff on my own, and will now share it with you.
As you know maybe, Massive Entertainment (World in Conflict, Ground Control) or rather to say
Ubisoft Massive is working on FarCry3. I like these guys very much and have visited your website today.
I´ve found some interesting info parts about FarCry3. The first thing is a more preciser release date, means its more than just "anytime in 2012".
The website said "Far Cry 3 is planned for release early 2012 [...]"
The next thing is they career section. They looking right now for an "Interface-Designer" and an "Online Game Programmer" for FarCry3.
As Mr_Shade said, several game aspects are not finished yet, like the HUD. The Online Game Programmer thing could mean FC3 will have a strong(er) multiplayer component.
What´s your opinion on that? Please discuss!