Well, this is it. Hell has frozen over, pigs are flying, dogs and cats are living together – MASS HYSTERIA!!

Gearbox has just confirmed that they will be releasing Duke Nukem Forever. If this actually comes to pass, it looks like L.A. Noire may be the new king of the vaporware.

The future of Duke Nukem Forever looked black indeed when 3D Realms finally went bust in May 2009. Take Two retained rights to the game, and they apparently felt that Borderlands developer Gearbox could put the polish to the long-awaited franchise.

No word yet on when it will hit stores, but we’ll let you know as soon as we do. In the meantime, there’s a live stream of the announcement and gameplay footage in this post.

UPDATE: The game has completed development, and will be released in 2011 on PC, PS3 and XBox 360. Said Gearbox CEO Randy Pitchford, “When Duke ran into trouble, we were glad to [help him out of] a spot. You can’t let the Duke die, right?” Apparently not, since the game is fully playable at PAX right now.