You gessed it right. A new and vastly expanded version of Morrowind is coming out only for the XBOX. If you want to check it out more, just visit any Elderscrolls III morrowind site or just type this on your search engine like google or yahoo "Elderscrolls III Morrowind Game of the Year" and you should get a response.
But what I've heard, you'll get at least 80 extra hours worth of extra quests to do, not to mention new cities to walk through, new dungeons to explore, new caves to go through, and vast new lands to explore as well. So tell me what you think?