According to Official Xbox Magazine (in the same column that namedropped Fable IV), Gearbox Software is aiming to give Duke Nukem a complete reboot once it's wrapped up production on Aliens: Colonial Marines.
The first game in this bold new era is due to be Duke Begins, the game that Gearbox had begun work on before Duke Nukem Forever fell into its lap. Quite what direction they're going to take Duke in is unknown. I'm hoping they actually make him a parody this time, instead of sincerity masquerading as satire.
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7:00 AM on 07.24.2014