Wait what? Yes there is? Or there -was-, PC Gamer, or ZONE, can't remember, did an article on it, although, I don't actually remember what happened to it.
See, this was about the time Assassin's Creed was getting all it's previews done. And in the article, the new Splinter Cell really resembled it. It had the hiding in a crowd bit and all that. Basically the plot had Sam on the run from the authorities, not like Double Agent where it's only a ruse, so he has no access to his gadgets or anything.
I honestly don't know what happened to it, it was looking pretty damn good.
Edit: Ahah! Take that OP!
http://en.wikipedia.org/wiki/Splinter_Cell_Conviction
Although, it's been delayed to 2009-2010, so, it's a while off still.