It will be a new character and the action will take place in England , but I am sure you will also see some old characters in this one , but you must know that it has nothing to do with the last GTA games . Can't wait to see the first trailer ( it's coming at the end of this mouth ) .

Is it new york ,England,or Liberty City?

It's actually New York but it called Liberty City in the game ( it's not the same liberty city as it was in GTA III ) and the main characters name is Nico Bellic , a Eastern European dude .

What old characters?I would like another 8ball or C.J.

imdb.com says that Young Maylay (voice of CJ in GTA SA) is rumored to be in cast, but i don't know if he will voice the same character

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Well C.J. did live in Liberty City be for S.A. so he could have moved to Liberty City.