According to Variety,Paramount has announced the date for TF3 to hit theaters,and it's July 1 2011.
But according to M Bay,"Paramount is making a mistake."
This was what he posted on his Shoot For the Edit forums:
"I said I was taking off a year from Transformers. Paramount made a mistake in dating Transformers 3 - they asked me on the phone - I said yes to July 4 - but for 2012 - whoops! Not 2011!!! That would mean I would have to start prep in September. No way. My brain needs a break from fighting robots.
So take it with a grain of salt,but it looks like we can expect TF3 in 2011.