The gang over at 4 Color Rebellion have a translated quote from Mother/Earthbound creator Shigesato Itoi's blog in which he reveals that not only has he been working on Mother 3 (as we all suspected), but that it's nearly complete and should be released sometime in the next season in Japan.  No details about the game were mentioned, although frankly just hearing that it's finally going to happen is enough for today.

I’ve thought to myself, “It should be all right now that it’s this far along,” on many occasions, but I always made sure not to announce anything until I could say that it was “ABSOLUTELY all right.” At any rate, this time I’ve decided to try and be reserved about everything. It looks like its release date will be about one season away, and I’m in the middle of doing many work retreats to get it finished. I’m going to work especially hard for a short while longer to get everything done.

Now the challenge is to convince Nintendo to release the game outside of Japan.  Itoi says specifically that it's a Game Boy Advance game (not a Nintendo DS game as previously rumored) which is fine with me.  It's more Earthbound and really that's all that matters.  A new Earthbound adventure is coming.  I never thought I'd see the day.