Didn't see it posted anywhere so thought I'd say it here, apprenitly quite recently, Square Enix registered the trademark "Blood of Bahamut".
http://tess2.uspto.gov/bin/showfield...ate=9u0oae.2.1
Word Mark BLOOD OF BAHAMUT
Serial Number 77558955
Filing Date August 29, 2008
Owner (APPLICANT) Kabushiki Kaisha Square Enix TA Square Enix Co., Ltd. CORPORATION JAPAN 3-22-7 Yoyogi, Shibuya-ku Tokyo JAPAN
Type of Mark TRADEMARK
Register PRINCIPAL
Live/Dead Indicator LIVE
In my opinion it easily could be a sequel to "Bahamut's Lagoon" but...it also has the possibility of being an expansion espically with Fan Fest in December. Annouce at TGS to JPs first and then actually show some content in December? Either way we should know which when TGS hits, if its a completely new game they'll likely annouce it.