Today at the New York Comic Con Marvel had it's Ultimate Universe Panel. Over at Newsarama they have an overview of what went on and I've grabbed the Ultimates 3 goodies for you to read.
" The aforementioned Ultimate crossover will play into Jeph Loeb and Joe Madureira's Ultimates 3, specifically, Quesada said, in regards to the team members who make it onto the squad.
Asked how long Joe Madureira is signed on for the Ultimates 3, Quesada said that he has already started on the series, is on board for the run of the book, and while not much could be said, the Editor-in-Chief added that summer time will have announcements about how the series will work ("length and texture"), and will be the time for previewing artwork."
It looks like it won't be until the summertime before we get more detailed information and artwork from the project.