It's been a while since we have heard anything about this game, but some new news has finally been revealed. Fat Princess has a launch window and it is set for Spring 2009, however no exact date has been set.
Alongside the new release date, new information -about gameplay and various other things- has been revealed.

We wish we could tell you about all the awesome games, parties, and events we went to at E3 2008, but the fact of the matter is that the craziness that was Fat Princess has a monopoly on all our E3 memories. When you say E3 '08, we say Fat Princess.

If somehow you missed the debut of what's sure to be one of 2009's big PlayStation Network downloads, Fat Princess is a sickly sweet-looking game of capture the flag where the flag is a princess. As part of your eight- to 32-player team, you start with the opponent's princess in your castle and need to hold onto her for as long as possible. You can feed the lady cake and other sweets so she'll get heavier and heavier so that if the other team infiltrates your castle, they'll have a harder time moving her overweight shape. You'll choose from five classes of characters, and slice your opponents in half as you battle to keep your princess.

Sayyed via ps3.ign.com »