They could be working on Fallout 4. Or a new title.
Or just partying :run: :intergalactic: :dmc:
Oh boy...if either one of those turns out to be true, expect a murder in the news the day after F4 is released
"HEADLINE NEWS, Todd Howard of Bethesda Studios and the rest of the team working on F4 have been found dead in the studio floor 1 day after the release of F4, after interviewing the murderer he had this to say, "FOR THE EMPEROR!!!" (blades quote) Inscribed with the dev team's blood were the words 'Blades' 'TES' 'Sithis' 'Umaril' and 'Sheogorath' all written in the daedric language."
Naaaah dev's i'm just kidding (or am I :stare:)
EDIT:
Wasn't sure whether to go with the blades quote or the ever popular "By Azura, by Azura!" Anybody got better ideas?