Leatherface 3D is a sequel/reboot kinda like Halloween H20 or The Next Karate kid. Texas Chainsaw Massacre 2-The Next Generation never happened. It takes place, not in the plantum dunes universe but in the original universe. Leatherface is returning as Bubba not Thomas. It starts off at the end of the Texas Chainsaw Massacre (1974) than fast fowards 35 years into the future. Considering the film takes place in 1974, 35 years could mean present day. Hopefully it won't have the sillyness of the original sequels and will have the seriousness as the movie it is a sequel to.
In 2012, a 3rd installment in the Texas Chainsaw Massacre reboot/remake series will be released!! It will not be a Prequel but a sequel.
It takes place 36 years into the future and will be titled "Leatherface 3-D." Unlike the remake and original it will (DUH!) not be based on a true story but could be a Sci Fi parody like other horror series keep on doing (Jason X, Leprichaun 4: in space, Dracula 3000: Infinite Darkness, Etc...).
Hopfully it won't be as terrible as most horror Sci Fi parodies.