Analysts/professionals discuss what's happening:
http://au.xbox360.ign.com/articles/107/1074839p1.html
Given Vince and Jason's track record for CoD, I reckon if they were to start their own company, it'd attract the attention of not only their former colleagues at IW but also lots of publishers.
Anyways, from what I read in the lawsuit, IW seemed somewhat interested in doing new IPs. It makes me wonder...