It's known that the HTC Touch Pro2 (or Tilt2, depending on what carrier you're with) is a popular device. As such, it would make sense that people would be excited about a new version, and according to a user on XDA-Developers, one may be in the works. Here's what he had to say:
"Just had a dinner with a friend of mine who is the main distributor for HTC in Europe, and he informed that they will receive the first shipment of Touch Pro3’s this summer and they will be on sale in Europe third quarter of this year. This is my main contact for HTC devices and he arranges a Touch Pro2 for me 4 months before it was officially released…He told me that the device will be much smaller and thinner, and soon he will provide me with the evidence including the full specifications ;-) Do you guys think this would be something you would purchase or would you rather wait for the Windows Phone 7?"
Given the fact that Microsoft is placing most of their focus behind Windows Phone 7 Series (something that the Touch Pro3 would not run if it were launched in the time frame mentioned above), it's probably not the Touch Pro3. Rather, the tipster was probably referring to the HTC Tera, a mid-range device rumored to have a 3.0-inch WQVGA touchscreen and a QWERTY keyboard. That being said, I'd love to see some version of the Touch Pro3 launch shortly after Windows Phone 7 Series.
Tera or not, I think there's a market for low to mid-range Windows Mobile devices. Is it something that you'd be interested in?