From GameSpot's coverage of an EA press conference going on right now comes word that Valve's Team Fortress 2 is still alive, amazingly enough. It's not quite the same game as we saw years ago though:

TEAM FORTRESS 2. WHERE DID THIS COME FROM? Hey, they're still making it! It's got a totally exaggerated, crazy art style now. Looks a little like Spy vs. Spy or No One Lives Forever, kind of a '60s spy feel. It's going to be the included multiplayer mode in Episode 2! Class-based, etc. You know the drill. Great news for shooter fans

Update: Just got a call from Remo at the show and there are a couple more bits of info from Valve:

- Episode 2 will also include an experimental game called Portal which is a bit more puzzle oriented. Similar to the portal tech seen in Prey but of course a bit more advanced
- The Xbox360 and PS3 releases will come out on the same day as Episode2 for the PC. The 360 and PS3 versions will be HL2 + Ep1 + Ep2 but will not include TF2 and Portal.