Ready at Dawn Studios, the folks behind the God of War PSP games (still some of the best games on PSP) are preparing to create a game for home consoles. This information has been revealed via a job listing on the Ready at Dawn website, in which they claim to be working 'on an exciting new AAA IP for a Next-Generation home console game system.' It also mentions that the game is going to be a 3rd person Action Adventure game, but no other details are given.
A few people around the web have speculated that Ready at Dawn may have been handed the reigns to the God of War series and been given the go ahead to make the next console iteration. However, the job listing specifically mentions that the positions available are for a 'new AAA IP,' which seems to suggest that the project will not be God of War related.
Despite having literally no details available, it's hard not to get excited at the idea of such a talented team making an original game for home consoles. We'll have more information about the project as it becomes available.