European game developers are outrage about a recent EU Commission proposal that, if approved, would require devs to abide by the EU Sales and Guarantees Directive, a rule that mandates “a minimum 2-year guarantee on tangible movable consumer goods.” While this guarantee sounds great for us the consumers, Dr. Richard Wilson, head of game developer advocacy group Tiga, is worried it may “stifle new ideas as [developers] could end up just playing it safe.” Basically they are worried that many of us might take advantage of it.

You should already know Guitar Hero 5 is coming. The new game offers the ability to create any combination of rock you want. Three microphones and one guitar? Go right ahead. Two drummers and two guitars? No problem. Four drummers? You should already know the answer.

The publisher of Call of Duty and World of Warcraft released a sunny financial report today, and revealed that Guitar Hero is big in Europe.
Activision Blizzard pulled in $981 million in revenue in the first quarter of this year ending March 31. That’s up from the company’s projected $860 million (which happens to be the revenue rival EA earned in its last quarter).

Activision has confirmed to Joystiq that the title is in development and will release sometime during the second half of this year. Activision could not confirm any songs, and only said the game will contain Van Halen’s “greatest hits,” as well as guest acts such as Queen, Weezer, blink-182, The Offspring, Queens of the Stone Age, and more.

Activision continues to “exploit” its Guitar Hero franchise this year with three new full titles coming this autumn. The newly announced Guitar Hero 5 will offer “the ability to drop in and out of songs and change band members, instruments and difficulty levels on the fly.” The press release contains no other details regarding the game, but you can bet it’ll be pretty similar to Guitar Hero: World Tour.

MTV Games and Harmonix have announced The Beatles: Rock Band will have two standalone guitars made available alongside the forthcoming Liverpudlian music rhythm game. The Rickenbacker 325 and Gretsch Duo Jet, played by John Lennon and George Harrison allegedly throughout their respective careers, are set to go on sale when the game launches in September for $100 bucks a pop.

EA’s expected to announced a loss for its fourth fiscal quarter tomorrow, with a Reuters poll pointing to a 43 cents per share downside on sales of $631.9 million.

After a week of extremely high PS3 Sales, it looks like the ride is finally over, the high of Final Fantasy VII: Advent Children finally ran of steam, and sales are a bit back to normal, but the PS3 still continues to out sale the Wii but by a smaller margin. I still guess many Sony fans will continue to be happy. But on the bright side Wii, PSP, and PS2 sales pick up for the week.

Barely a month old, the movement to place a video game hall of famein Ottumwa, Iowa has formed a city-backed committee and is hiring legal services to incorporate itself as a nonprofit venture.

Activision has unveil some more Guitar Hero: Smash Hits tracks, but once again they release another short list of tracks to be included in GH: Smash Hits — this week from Guitar Hero III. They also release some new in-game images of the game. The game is set to release June 26, 2009 on the PS3, PS2, 360, and Wii.