If this Gears game is Unreal Engine 4/Next Gen, 2014 is too far away to announce it at this E3. That means 3 E3's before release.
And I'm thinking it has to be Unreal Engine 4, that's 100% what Epic is about at the moment and the only way to make a new engine great is to make it alongside a new AAA game. Gears, a game renowned for it's graphics, is the perfect game for such a task. Much as the original was the game that introduced UE3 on this generation.