In addition to Lionheart, BIS has another project in the works codenamed "Jefferson". Here is a link for the details:
http://shadow-network.net/jefferson/general.php
Check out the remainder of the links on the menu to the left - particularly the link for the setting. [img]smile.gif[/img]
While it's true that the Bhaalspawn saga ended with BG2:Throne of Bhaal, there STILL could be a BG3 as Inerplay retains the license for games set in Baldur's gate.