According to some sources, Call of Duty 5 is now currently playable and is going through quality assurance phase. This time Infinity Ward will not be working on it instead Activision will be. The game is hinted to be set in WWII and will use the same engine cod4 used. The game will be on PS3,360,Wii,PS2, and PC.

From what I've heard it looks to be a Pearl Harbor/Attack on Japan game.