When a game is heavily rumored to be in the works, there’s no way around it; the game’s bound to see the light of day sooner or later. This statement couldn’t hold truer for the newly announced Metal Slug 3 and Penny Arcade Adventures: On the Rain-Slick Precipice of Darkness Episode 1 (and we thought SFII Puzzle Fighter Turbo Remix was long).

In September 2006, we reported that the Metal Slug series would be heading to the XBLA sometime this year. Until now, there has been no word as to which title in the series would debut on the online service. Believed by many fans to be the best entry in the series to date, SNK Playmore’s Metal Slug 3 has been clamored for since the launch of the Xbox Live Arcade. Unsurprisingly then, the game recently made an appearance on SNK’s line-up for next month’s Tokyo Game Show. As such, there’s next to nothing known about any new features the game could bring forward for its XBLA release. Online co-op maybe?

The other new title known to be on its way to the XBLA is Hothead Games’ first episode of the highly anticipated game based on the work of Web comic pioneers Jerry Holkins and Mike Krahulik, titled Penny Arcade Adventures: On the Rain-Slick Precipice of Darkness. The 3D game’s price point has not been finalized yet, though Vlad Ceraldi, Hothead Games president, did note that it would be available for “under $20″. As indicated by “Episode 1″, this is only the first game in the series with more to follow every few months. Check out the first trailer below.

Are you excited about these two titles?

Thanks to Jamzy No 2 for spotting the Penny Arcade game.