The Gears of War Kinect rumor has been circulating for a number of months now after IGN reported that the game is in development. Epic then teased a new unexpected Gears of War gameplay reveal that would have "everyone talking" at the VGA's in December, but the announcement was pulled by Microsoft at the last minute and promised for a later date.
If we had to put money on it, we'd guess that we'll be seeing Gears of War Kinect, should it exist, at GDC at the end of the month.