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I'm tempted to ask if it isn't possible to simply anounce a game _when it's done_. But I guess that's how we got Halflife3 :p

Famously (or perhaps not, but I remember it anyway), Duke Nukem Forever developers 3D Realms said that it would be released "when it's done".

Duke Nukem Forever was first announced in 1997. It was released in 2011, and got terrible reviews.

All in all, giving yourself an unlimited timeline for development is perhaps not a recipe for success.