Like many of you, I'd forgotten there was a Rambo game in development, which is strange because it's GODDAMN RAMBO. But yes, this game still exists. It was actually set for release this holiday season but was recently delayed into 2014. It looks... well just watch it and make up your own mind!
It's not... great. My feeling is that it looks bad, but I will probably still play it.
Apparently the developers have acquired the audio from the movies as opposed to using actual voice actors for the game, and have created a game that plays out some of the major scenes from the first three Rambo games. Sounds... not good.
It's a shame because a really well made Rambo game based on the first movie — ala Metal Gear Solid 3 — could have been incredible. This game just looks a little rough around the edges and as a fan of Rambo that's disappointing.