I know this news is quite late, but still here it is.

Dan Houser has double confirmed that the map is Los Santos and the surrounding country side, but he also said that that it will be a very big map.

I hope that it will be VERY big. I love exploring the map and killing grandmas.

We don't expect a lot of news for a while now, but expect the game to be released late 2012, probably near Christmas time.

While you wait for more news on GTAV, if you're interested in MW3 then go check out our website. They have just announced the first DLC.