Penny Arcade Adventures Episode 3 still alive, Zeboyd at the helm

After its abrupt cancellation last year, Penny Arcade Adventures: Episode 3 has risen from the ashes with developer Zeboyd Games taking control of the project. The studio is best known for its Xbox Live Indie Games and PC releases, Cthulhu Saves the World and Breath of Death 7.

RPGamer reports that, given the retro nature of Zeboyd's titles, Penny Arcade Episode 3 will take on a similar graphical style (think: the 16-bit Final Fantasy games); Alex Mauer will be providing the soundtrack. This marks the first game in the series not developed by Hothead, which left the project last year and went on to develop DeathSpank.

Episode 3 is set to be released in 2012 on "as many systems" as possible. More information will be revealed at PAX East next year ... but that won't stop us from harassing Gabe and Tycho for information all weekend.