Bioshock, which has been in development since 2004 is scheduled for release on August 24th in Europe and 21st in America. No idea when we will get it, but it will be sometime around then too I imagine. Apparently the game has very interactive environments and is driven by player choice, apparently to a level not done before. There is no multiplayer component to the game unfortunately. That said, the game did garner the title of "Game of the show" at E3 last year.
The official website is here. Due to popular demand, they are releasing a special edition as well, initial details here, as well as a set of pictures of the prototype figurine.
There's a trailer available here and an interview conducted by IGN here.
This game looks awesome, at least in terms of graphics, I am not sure about the playability, but based off what has been said about it, that should be on a par with the graphics. Steal the components you need if you don't have em, this is going to be a brilliant game but probably needing a monster pc.