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Final Fantasy XIV was announced just now at the Sony E3 press conference as a Ps3 (and probably PC) exclusive for release in 2010.  The official website also states this will release for the Windows OS as well.

This is the sequel to Final Fantasy XI, a MMORPG, and was codenamed “Rapture” during it’s development.

Update:

Grainy youtube trailer!  There is a HD much higher quality version on the official site, link below.

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YouTube Direkt

Update 2:

The official website is now online.  Definitely some Taru, Elvaan, Mithra, Hume and Galkas in those illustrations.  This is a clear successor to Final Fantasy XI.  There are also some little horned dudes.  Not sure about them…

Yes, that’s Nobuo Uematsu doing the music.  The official site confirms it.  The game staff consists of veteran Final Fantasy team members - mainly the FF11 director and producer leading this project up, and art directorship from Vagrant Story and Final Fantasy XII veteran Akihiko Yoshida.

Producer: Hiromichi Tanaka
Director: Nobuaki Komoto
Art Director: Akihiko Yoshida
Music: Nobuo Uematsu (!)