For one thing, Gameloft has added the DROID 3 (Motorola XT862) to their list of compatible devices, signaling its upcoming presence. That doesn't mean it's coming next week or anything, but it means that Gameloft has it on good authority that they should be prepared.
What's more, Android Life heard from so-called "close friends" that Verizon will be releasing the device on July 7th. That's in line with earlier rumors of a late June or early July release date.
While we can be fairly certain that the DROID 3 won't be LTE-compatible, there are plenty of other merits that make it a worthy successor to the DROID and DROID 2, including: a 5-row QWERTY keyboard (as opposed to 4), a 4-inch qHD display, an 8MP rear camera, and (most likely) a TI OMAP dual-core CPU.
source: Android Life