Norihiko Hibino, composer of Metal Gear Solid, owns his own company called GEM Impact. On the site, he lists his upcoming projects which have revealed some titles in the works at Konami, publisher of Metal Gear Solid and Grasshopper Manufacturer, developers of No More Heroes. The big point is their listed as exclusive to each system.
Grasshopper Manufacture “New Title” (PS3, Worldwide)
Konami “New Title” (Xbox 360, Japan)
We’d guess that Grasshopper is working on an exclusive PlayStation 3 title and Konami are working on an exclusive Xbox 360 title, but he lists Bayonetta as well for only PlayStation 3 so one or both of these titles can end up being multiplatform, whatever they are.
Once again, E3 seems like the proper place for these two to be unveiled.