A new game in development called "Neverwinter" (as far as I can tell that's the actual name) has been announced. It's not Neverwinter Nights 3 and it's also not an MMO. Instead it's, apparently, a "cooperative online RPG". Despite it not being an RPG it's being developed by Cryptic (who made Champions Online and Star Trek Online).
GameSpot has an interview with Jack Emmert about the game. Here's an excerpt:
GameSpot: Give us an overview of Neverwinter. What is the game and how will people play it? Will it be a full-on massively multiplayer online role-playing game, like City of Heroes or Champions Online?
Jack Emmert: I wouldn't say MMORPG at all--Neverwinter is a cooperative RPG. You can play with a bunch of friends and experience Neverwinter and D&D in a brand-new way. We're trying to create new sorts of games that we call "OMGs" (online multiplayer games).
In terms of Neverwinter itself, players will find it's a brand-new Forgotten Realms. Years and years have passed, and Neverwinter has fallen into ruins. A brave few are trying to eke out their lives and to rebuild the once great metropolis, but many threats stand in the way. And this is where the players come in…
As you can see from the interview it's using D&D 4E, it's set "a little over 100 years into the future" (no word on the future compared to what, but for the moment I'm assuming the future since NWN2 because it mentions recovering from the Spellplague). There will be five classes you can choose from to play (the staple fighter, wizard, rogue, ranger and cleric) and for races humans, elves, and dwarves "as well as a few special ones that I won't mention just now".
The game will also come with a system currently named "Forge" to allow players to build their own adventures. But from the description it doesn't sound like it'll be nearly as deep as the Neverwinter Nights toolset(s) as you'll (just?) be able to "write adventures, to create maps, and to attach their quests to in-game entrances and NPCs". It's sounding altogether a lot like City of Heroes' Mission Architect; build a simple map, write some story, hook to existing online game world and have some hack-n-slash. Again, to me sounds like it's totally missing the point of what made Neverwinter Nights so compelling.
There is more on the game in the interview. The game is set to release fourth quarter of 2011. There's also an official website(without much content at the moment).