Yes there is definetely being worked on Baldurs Gate 3. I know Atari is the publisher, but they've yet to choose a publisher.
It will be made in a 3D engine, and it will be a prequel to BGI, which means that it will take place BEFORE the other games, likely in the Time of Troubles, where the whole thing started. It is also known that they might implement one of Minsc's ancestors, with a miniture giant space *something* as a pet.
So everybody, stick together and pray that Atari will leave the development to companies like Troika.
We had a few discussion about this topic that will shed even more light on the matter at the DLTC forums. (GOI - Glory of Istar, the mod that converts Baldurs Gate into a whole other game, in the Dragonlance setting).
Here are the threads:
Main conversation:
http://www.dragonlan...y;threadid=1056
Another conversation with much info:
http://www.dragonlan...y;threadid=1202
Also, there's a little info at www.planetbaldursgate.com and in Biowares forums.
-Grunker
Edited by Grunker, 13 January 2010 - 05:25 PM.