According to this Italian Gundam fan website, the Sunrise people sort of confirming that there is works on Mobile Suit Gundam Unicorn in progress at Italian anime convention news conference. The president of Sunrise stated the release of Unicorn movie in 2010 to mark 30th anniversary of famous mecha franchise which also saw the completion of full mock up statue of Gundam.
Storywise, it took place 3 years after Operation Axis (seen in Char's /Sha's Counterattack) firefight between remnants of Zeon called "The Sleeved" and moping up Federation fleet led by Londo Bell taskforce that successfully blocked Char's /Sha's masterstroke. Based on ongoing novel series by Fukui Harutoshi.
Bad news though, creator famous for "Mr-Kill-Em-All" Tomino himself is not involved and so is Katoki Hajime in the production. Katoki has his detractors but I love his touch on Gundam since 0083 Stardust Memory. So it remains to be seen who will be the mecha designer and director for Unicorn movie.
Cheers.
