Outside of fueling debates between Xbox 360 and PlayStation 3 fanboys, Kojima Productions hasn't said very much http://www.1up.com/do/gameOverview?cId=3140656 lately. A release date in 2007 doesn't look too likely anymore, but expect the silence to drop in the next couple of weeks, as two big events are in July: E3 next week and the Metal Gear 20th Anniversary Party on July 24 in Japan.
In the latest Kojima Productions Report http://mp.i-revo.jp/user.php/kp-ryan/entry/103.html, Ryan Payton confirmed they're working on a new trailer to debut at the Sony and Konami press conferences next week. Unlike previous Metal Gear trailers, this one will be completely in English, as Payton's anxious to show off the voice work.
It doesn't appear the game will be playable in any form, but that doesn't mean it won't soon; at the Metal Gear 20th Anniversary Party, Payton said there will be a "playable game," but wouldn't delve into specifics. Sounds like he doesn't really need to connect the dots on that one, though. Stay tuned for more.
Thanks to http://feeds.feedburner.com/~r/1up/ALLPS3/content/~3/130858046/newsStory for sharing the news with us!