I still think it'll come out someday. Until then don't worry about it.
That's where I'm at too I guess. I'm not waiting with baited breath for it or thinking about it a lot, but if/when the day ever comes I will drop everything and play the shit out of it.
I think the only way they could actually release it now and not have it disappoint is if HL3 sets the standard for how to make a VR First Person Shooter.
Half-Life 1 completely changed how First Person Shooters worked - Until then, everyone just copied Doom / Quake.
Half-Life 2 showed that Physics are a big deal and can make game environments much more believable.
Half Life 3 would have to innovate similar to how Mario 64 or the HL prequels innovated. I don't think it'd be enough if it's 'just' a great First Person Shooter, Half-Life always revolutionized gaming and that's what people come to expect from the series.
Right, and I'd add that Half-Life 2 really set the bar for realistic human characters, animation, and acting that all felt believable a natural. It was ahead of anything around it's time and is really one of the games that set a standard for others to follow.
I'm not sure how you follow up 2 genre defining games. I know a lot of people don't necessarily need that and just want to see the story completed, but I doubt Valve wants to do anything just for the sake of "getting it done."