Yeah, Activision announced a while ago that they were only making Call of Duty 3 for next-gen consoles. The PC will get a different game.
Call of Duty 3 looks okay...not much difference than Call of Duty 2 from current screenshots and trailers. The only thing that intrests me is the improved and interactive melee system. Germans will actually lure you in and attempt to overtake you in close quarters.
I'm more excited about Brothers in Arms: Hell's Highway. The graphics, controls, and pretty much everything is vastly improved over BIA: Earned in Blood. Unreal Engine 3 at it's best!
Also, the history behind the Brothers in Arms series are probably the most accurate of any WWII based shooter to date. Every battle you fight actually took place and almost every location is nearly identical to what it would've looked like back then. Gearbox Software is doing a great job with the game.