According to Obsidian's job vacancies (noticed yesterday by OXM), that 'something big' in development is a "unique next-generation game" or an "unannounced next-gen console title", depending on which advert you read. But the revelation of Obsidian working on next-gen console games isn't particularly surprising either - I expect most developers of its kind now are.
The recent job adverts weren't particularly revealing, although one mentioned "role-playing" and "action" in the same sentence. But, again, the idea of a next-gen console RPG containing action bits is about as likely to raise an eyebrow as I am wearing a dress.
Obsidian's blurb on LinkedIn only notes that the studio "also has other unannounced projects in the works". Obsidian cancelled a next-gen project in March last year, incidentally, laying off 20-30 staff, but how that project relates to this new one I don't know.
What is interesting, though, is the question of whether Obsidian's working on new IP or not - but it's a question Feargus Urquhart dodged when I asked it.
"Unfortunately, we can't really talk about what we are working on, but it is already looking great," was what he wrote.
"As for the number of people at the studio, it's safe to say we are around 100. As for the split of people, we do have around 15 people working on Project Eternity and that will go up by a few in the few months.
"As for the other projects, it's a bit more complicated to explain exactly how many people we have on one project versus another."