It's been a long wait. The delay has apparently been due to "an unusual and specific set of circumstances" that have conspired against the developer.
However, it's something Telltale doesn't expect to happen again. So, no, there shouldn't be such an epic gap between Episodes 2 and 3.
At review, we called the first episode of The Wolf Among Us "another engrossing and well-written character-driven drama from Telltale", and promptly gave it a Silver Award.
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