The full title for Star Wars Episode III was announced a few days ago. It is:
Star Wars: Episode III: Revenge of the Sith.

This title is not so much a surprise for those die-hard Star Wars fans such as myself. Let me enlighten the rest of us as to why this was the expected (and probably fan favourate) title.

As we all probably know, the original Star Wars trilogy (eps. IV-VI) were: Episode IV: A New Hope (1977); Episode V: The Empire Strikes Back (1980); and Episode VI: Return of the Jedi (1983).

In regard to the last movie, Return of the Jedi, this was not the original name for the movie. The name of Episode VI was originaly to be Revenge of the Jedi. However the name was changed just before the movie was released because George Lucas thought that the act of revenge was not befitting Jedi, who were supposed to be calm and good religious-type people. So he changed it to Return of the Jedi. He actually made this call quite late, as there exists supplies of that movie's merchandise firstly printed with the 'Revenge' title on it, which are now quite the collectable.

So when it came to the name for Episode III, the favourate among the fans was Revenge of the Sith, as the Sith are the bad guys who would be into the whole revenge-thing, and it would be a play on the original title of Episode VI. The style of the logo of the upcoming movie they have on the Star Wars website at the moment is also reminiscent of the original Revenge of the Jedi merchandising.