I'm one of the primary BioShock experts on the board. I've attended events, spoken with developers directly, been given game resources directly.
The game's story is pretty deep. This is a video game, so you don't need a full understanding, but one might take a while to make. I still don't think I have a 100% understanding, but it's taken me along while to make it to this point. Once you understand it all, it seems quite beautiful...
I'm rambling. I will just leave it at Approved. BioShock Infinite is currently estimated to launch 2012. It is a different location, time, etc. It retains BioShock elements whilst introducing new ways to play and... all that.
It seems my mind is trailing here.