It surprises me that the next is being proposed so early.
I did imagine the final evolution of Fable would be to have buildable cities, having advisors ala Civilization (and a couple of other factors) and the combat side of things playing third or fourth fiddle.
I had no problem with Fable II's story, it left some points to ponder over and interpret for yourself which is key in breaking the fourth wall. It's no Clockwork Orange, but were you honestly expecting it to be? The DLC "See the Future" however, annoyed me story wise.
If they use a Save share programme like Bioware are then I will be a bit more impressed, and believe the "Actions have consequences" spiel that Peter gives, as at the moment "Actions have consequences that are easily put right again" is more apt.
We need to have bad sides of a game, without despair happiness isn't as sweet.