Set in the same world as Fable I & II, approximately 50 years after the events of Fable II, Albion is currently under the control of Logan, a corrupt, tyrannical king. Logan's sibling, the "Hero" and playable character, is forced into a quest to become a revolutionary leader to defeat the king after an "injustice" happens to their parent, the previous ruler of Albion, believed to be killed at the hands of Logan. Over the course of the first half of the game, the Hero will gain the people of Albion's support, overthrow Logan and become ruler of Albion him/herself. During the second half of the game, the player will have to choose whether or not to follow up on promises made to the public, at the risk of losing Albion's approval. While dealing with this, the player will also be faced with the possibility of war when "Aurora", a neighboring country, begins to threaten Albion.
As in the first two installments, one of the main thematic devices will be how a player's choices affect their character and the world of Albion. The player's style of combat will also impact the gameplay: melee and ranged weapons will change with use, as well as the player's magic-casting gauntlets. For example, if a player slaughters innocents and civilians the weapon will darken and drip blood, but will glow if used against evil. The blade will also lengthen and widen if the player uses advanced attacks and defensive blocks. Players will also be able to trade their crafted weapons online with other players for gold and can in turn purchase other weapons crafted by other players.
Like many newer games, Fable 3 will feature a cast of recognizable actors:
Lionhead confirmed Zoë Wanamaker and Stephen Fry will reprise their roles as Theresa and Reaver respectively. John Cleese will voice Jasper the butler, Academy Award winner Sir Ben Kingsley will voice the King of Mist Peak, with Michael Fassbender, Bernard Hill, Simon Pegg and Jonathan Ross voicing other roles.
Source: Wikipedia, "Fable III", available under the CC-BY-SA License.