I came across this news on [url=http://halo.bungie.org/news.html?item=38514]HBO[/url] and i don't know about you guys, but i'm all over this.
Read the official announcement at [url=http://www.halomods.com/ips/index.php?/topic/6-open-sauce-halo-custom-edition/page__st__160__p__7383#entry7383]halomods.com[/url].
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I played a version of it last year (The TaR beta). It was pretty good, but it completely trashed my laptop at the time. I've got a more powerful one now so I might give it another shot in the future.