According to Horribid.com it looks to be just that and really this may be a bitter-sweet moment. It seems like this sequel would have been rushed to meet the Friday, August 13, 2010 that everyone wanted. As a fan of this franchise I'd rather wait 3-4 years for an acceptable movie than 1 year for something mediocre.
It really seems that a lot of fans are getting upset over this, but like I said- it may be for the best. Who really wants a rushed movie anyways? I also personally think that Platinum Dunes wants to see how the A Nightmare On Elm Street remake does. I think if that bombs they may be in a hurry to produce this to try and make up the losses. However, I don't think the ANOES remake will bomb, and in fact I think it's going to do very well.
This may also be the end of the Derek Mears era as Jason.