Baldur's Gate Enhanced has been announced. The countdown clock counted down, and much to the chagrin of fans of the series, this is not the announcement of Baldur's Gate 3. Details are scarce on what, exactly, Baldur's Gate Enhanced is, but it will be available in Summer of 2012.
One of the developers, Trent Oster, has been tweeting a bit about what to expect with the game, posting:
Baldur's Gate Enhanced Edition is going to have new content for the game you love, made by some of the original team members
Baldur's Gate Enhanced Edition will include the Tales of the Sword Coast Expansion