At E3 2011, I was able to attend 2K's on-screen demonstration of their new XCOM game, which takes the strategy formula that the game is known for and throws it out the window, in favor of an FPS.
The game looked great, and from what I've seen, it didn't show signs of halted progress, or any real problems. Turns out that the game is being pushed to year 2013, and letting Firaxis' strategy XCOM reboot take its spot as the XCOM game of 2012.
As a fan of the strategy games, I am still excited that Firaxis' game will be releasing this year, though I was really excited to see how the FPS reimagining would have turned out.
Now let's just hope this end of the world business is all just one big farce, I want to play me some XCOM dammit!