Sadly I'm in the camp that it wont happen, I'd love it to happen, but Valve are way comfier just raking in money from Steam so why risk alienating their fan base with a Half Life 3 that doesn't live up to our expectations :( It's sad but it's the way it is :(
I didn't think it would be. Gabe has historically been really paranoid about the hype the game would have in relation to expectations. Its really smart. If he was to do it, he might just throw it out there randomly, rather than fuel a hype train.
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No hills or valleys?