@g-money It's no surprise you didn't hear about it, it's very recent news.
For general info from Giantbomb site
SC II Trilogy
For an in-depth interview
with SC2 Brain Trust
In a nut-shell the Terrans are the only playable campaign (story mode), but all three races will be available for multiplayer. The next will be zerg campaigns and lastly protoss each coming out a year or two after one another. They state the zerg campaigns are in the concept phase and they haven't touched it since they're working on terrans. Each race will have a total of 30 or so missions.
Since Protoss are set to be the last playable campaign race I'm guessing a somewhat "happy" end for the Starcraft universe.
I'm not too thrilled with waiting another few years for expansions. Or the fact there will be two of them, which means more money out of my pocket. But if they do a good job, which I think they will, I won't mind too much.