RT.com only mentions the article in GI. IGN has it only under PS2 and XBox...TDK doesn't mention it, Vicious Cycle doesn't either, only that's it's coming in 2004. Hard to say.
If it is being developed for GC, it may be further behind...Battlecry if I remember correctly for GC was released after the PS2 and GC versions...that's one slight possibility. Maybe VC has less people to do the GC version. Still, not announcing it doesn't bode well.