No shit.
Edit: It's sad that there were major publications (*cough* IGN, Shacknews *cough*) completely gullible enough to think that there was even a hint of legitimacy in the rumor, thus reporting on it.
I think they were quick on the draw because it was pro xbox news. There are equally fake, equally positive PlayStation news and they rarely ever report on it. Only if it's fake negative news like tlg being cancelled does it seem to be rushed to the front page.