1Up’s Sam Kennedy seems pretty sure it is.
There has been some interesting speculation, and the lack of info coming from Incognito has fuelled rumours that the game is stuck in development hell. According to Kennedy though Warhawk is still very much progressing, albeit in a different direction, and he’s off to give it a playtest. [...]
"Warhawk- PS3?s downloadable Battlefield?" - 22.02.07