Sega AM2 is working on Virtua Cop 3, as this video (smaller version) demonstrates. This time out the game's make-up is closer to Time Crisis, with a foot pedal toggling slow motion effects - so that you can shoot his damn bullets right out of the air!
There will be four playable characters, (which at least suggests some hint of a story); James Cools, Janet Marshal, Mike Hardy and Frank Kalanza. And along with four different heroes, players will also be able to hold up to four weapons and switch between them at all. And say, isn't it nice to see Sega doing something different with a shoot 'em up for once?
So far the game has only been confirmed for the arcade (April 2003 in Japan), but you can expect to see it on every console under the TV before long. The PS2's G-Con2 with its foot pedal replacement button, which proved so useful for Time Crisis fans, will make that console the obvious target.