Our favourite grumpy video game creator has written up a post about this possibility right over here.
Update: Chuck Jordan, credited as a script writer and designer of Curse of Monkey Island (the real or fake Monkey Island 3 depending on your point of view), countered with a tweet:
“No disrespect to the talented teams involved, but I’ma spend 15 years talking about how I could’ve done better than them.” #3a #neverforget
And so it goes.
Update 2: Ron responded to the criticism by offering some clarification:
“When I said "but I'd want to pick up where I left off. Free of baggage. In a carnival.", I meant the very literally. My story for Monkey Island 3a takes places 2 minutes after the end of Monkey Island 2. Free of baggage was not meant to imply that I felt Curse of Monkey Island was "baggage", but rather, as I (hypothetically) designed and (hypothetically) wrote Monkey Island 3a, I'd want to be free to take the story where I wanted it to go and not feel compelled to adhere to the games that followed. If I end up being able to make this game at some point, we all might find that it fits nicely in between Monkey Island 2 and Curse of Monkey Island.”