A number of gaming news sites (including StickSkills and Kotaku) have reported details of Resident Evil: Operation Raccoon City. The game is reportedly in the hands of Slant Six, the developer once responsible for the PlayStation-exclusive SOCOM series.
According to reports, the game is a team-based shooter set in Raccoon City at the time of the zombie outbreak of Resident Evil 2 and 3. Instead of your usual role as a S.T.A.R.S. or B.S.A.A. recruit, this time players will assume the role of Umbrella mercenaries tasked with containing the outbreak that has ravaged Raccoon City. This doesn't just involve slaying zombies, however; you'll also have to deal with any survivors in a bid to destroy all evidence of Umbrella's activities.
One of the really interesting details about the game is that, reportedly, it will allow players to rewrite the canon of the Resident Evil franchise from that time forward, even to the point of killing off core characters.
A raft of details can be found in the StickSkills piece, and Official Xbox Magazine is said to feature a cover story on the game in its upcoming May issue.