Fable 3 had just officially announced by Microsoft at GDC 2009 talk show, and in Fable 3 you'll be alowed to become the Albion's ruler.
"The third child is always the problem child,” Molyneux of Microsoft said. “The third game of any series tends to be a bit of a lull. We aim to surprise players.
“Fable 3 will be new, fresh and different. I think there’s something fundamentally wrong with RPGs like Fable. The mechanics have been around since the ‘80s. I’m going to take that foundation and throw it away.”

Fable 3 is due out some time toward the end of 2010.
In addition, Molyneux confirmed that Microsoft is to re-release Fable II in five episodic chunks that can be downloaded individually.
I was so excited to finally get one of these games...surely II is better than the original I WOULD NOT KNOW. The graphics were pretty good...they only take you so far till the actually game play drags you down...hardly worth wondering around fighting bad guys for hours to get enough power for additional skills. I would put this in a Zelda genre about 20 years too late.
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