Gamereactor's Jonas Mäki has been to Bungie to see Halo Reach. He has met with several of the key people behind the game and delivers details on weapons, story, and the technical side of things.
The closing paragraphs of the article reads as follows:
"Since then I have had a month to digest and think about my impression from the visit. Halo: Reach will definitely stick out from the rest of the Halo games, since it is guaranteed not to get a sequel and includes more new elements than any other instalment in the series (with the exception of Halo Wars). Halo: Reach is likely to be Bungie's final farewell to the series, and after it comes out they will look to create new titles in what will most likely original game worlds as the independent developers they have once again become.
A half-assed Halo: Reach would lead to lower expectations on the next game from Bungie, so there is no room for complacency. And Bungie are very proud of everything they have achieved with the Halo series in terms of critical acclaim, awards, sales numbers and perhaps most importantly response from fans. Therefore it is important to go out with a bang, and after my visit I believe that is exactly what they will do."