Valve might soon regret this lengthy delay as independent modders have been hard at work in creating Half Life 3, via Half Life 2. The team called Cinematic Mod have made quite a progress as they were able to produce high resolution textures and more realistic facial depictions to name a few.
Cinematic Mod revealed that they are in the Alpha 12 stage and the game engine is being optimized beyond its boundaries to produce a fan-made Half Life 3. You can view the images of the fan-made game here.
As for the real Half Life 3, there is still no indication by Valve on its coming. Even the recent Gabe Newell AMA on Reddit turns out to be a disappointment. Nevertheless, the fans remain hopeful for Half Life 3 to materialize in the near future.
